If an economy produced 220 pounds of jelly beans at $5 per pound and 90 pounds of gum drops at $2 per pound in 2010, its real gross domestic product GDP)was

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Real GDP is calculated by multiplying the quantity of goods produced by their prices. For jelly beans: 220 pounds * $5 = $1,100. For gum drops: 90 pounds * $2 = $180. Adding these gives a total real GDP of $1,280.

If an Economy Produced 220 Pounds of Jelly Beans at $5