The following table contains prices and quantities for the three goods produced in the country of Linfieldia.

-Refer to the table above.Assuming that 2015 is the base year,what is real GDP for 2016?
A) $1,780
B) $2,915
C) $3,470
D) $5,120

Question

The following table contains prices and quantities for the three goods produced in the country of Linfieldia.
 
-Refer to the table above.Assuming that 2015 is the base year,what is real GDP for 2016?
A) $1,780 
B) $2,915 
C) $3,470 
D) $5,120

Quizplus · Accepted Answer

Real GDP is calculated by using the prices from the base year (2015) and the quantities from the current year (2016). The correct calculation based on the given data results in $2,915.

The Following Table Contains Prices and Quantities for the Three