Calculate the economic growth rate explain your calculations

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Question: Let's assume in the country A, people produce 2 goods only: In 2021: 200 apples at a price $1/apple, 300 computers at a price $200/computer In 2022: 200 apples at a price $2/apple, 300 computers at a price $200/computer a. Using 2021 as a reference year, calculate the economic growth rate. Explain your calculations. b. Calculate the CPI for 2021 and 2022. c. It has been shown that productivity gains explain most of the increase in living standards associated with economic growth. Explain one factor that increases productivity over time?

Reference no: EM133346156

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