Suppose that in 1984 the total output in a single good economy was 12,000 buckets of chicken. Also assume that in 1984 each bucket of chicken was priced at $16. Finally assume that in 2005 the price per bucket of chicken was $20 and that 26,000 buckets were produced. What was the GDP price index for 1984 using 2005 as the base year?
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