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The price of each unit of the good in year 1 was 280 and it

A country produces only one good. It produced 5,000 units of the good during Year 1 and 6,000 units of the good in Year 2. The price of each unit of the good in Year 1 was $280 and it was $320 in Year 2. Suppose Year 1 is taken as the base year for the calculation of GDP.

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Mathematics: The price of each unit of the good in year 1 was 280 and it

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Mathematics: The price of each unit of the good in year 1 was 280 and it

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