Question

Table 8-17
  A very simple economy produces three goods: movies,burgers,and bikes.The quantities produced and their corresponding prices for 2011 and 2016 are shown in the table above.
-Refer to Table 8-17.What is nominal GDP in 2016?

Accepted Answer

A)  $3,320
B)  $3,690
C)  $6,360
D)  $7,035E) B) and D)
F) None of the above

Exam 8: Gdp: Measuring Total Production and Income

Table 8-17 A very simple economy produces three goods: movies,burgers,and bikes.The quantities produced and their corresponding prices for 2011 and 2016 are shown in the table above. -Refer to Table 8-17.What is nominal GDP in 2016?

Correct Answer
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Exam 8: Gdp: Measuring Total Production and Income

Table 8-17 A very simple economy produces three goods: movies,burgers,and bikes.The quantities produced and their corresponding prices for 2011 and 2016 are shown in the table above. -Refer to Table 8-17.What is nominal GDP in 2016?

Correct AnswerverifiedShow Answer

Correct Answer
verified