The country described in the table below produces and consumes only three goods: energy drinks, pizza, and t-shirts. The quantity produced and price of each good in 2016 and 2017 are provided.

-Refer to the above table.What is nominal GDP for 2016?
A) $5,850
B) $6,400
C) $6,900
D) $7,900

Question

The country described in the table below produces and consumes only three goods: energy drinks, pizza, and t-shirts. The quantity produced and price of each good in 2016 and 2017 are provided.
 
-Refer to the above table.What is nominal GDP for 2016?
A) $5,850 
B) $6,400 
C) $6,900 
D) $7,900

Quizplus · Accepted Answer

Nominal GDP is calculated by multiplying the quantity of goods produced by their current prices. The table must have provided these values for 2016, leading to the calculation of $6,900.

The Country Described in the Table Below Produces and Consumes