-Refer to Table 5-2. What is the nominal GDP for 2018?
A) $900
B) $1000
C) $1100
D) $1250

Question

-Refer to Table 5-2. What is the nominal GDP for 2018?
A) $900 
B) $1000 
C) $1100 
D) $1250

Quizplus · Accepted Answer

Nominal GDP for a given year is calculated by multiplying the quantity of goods produced in that year by their prices in the same year. Without the specific data from Table 5-2, the correct answer cannot be determined from the provided information. However, based on the question's structure, if C is the correct choice, it implies that the nominal GDP for 2018 is $1100, assuming this aligns with the data in Table 5-2.