In Kiowa The Two Products Produced Are Corn And Hogs In 2001 20 Bushels Of Corn (1)
In Kiowa, the two products produced are corn and hogs. In 2001, 20 bushels of corn are sold at $5 per bushel, and 8 hogs are sold at $50 each. In 2000, the base year, the price of corn was $10 per bushel, and the price of hogs was $75 each. Calculate the value of real GDP.