Use the following to answer questions:
-(Table: Lemonade and Cookies) Use Table: Lemonade and Cookies. Assume that an economy produces only lemonade and cookies. If 2014 is the base year, real GDP in 2014 was:
A) $400.
B) $420.
C) $425.
D) $445.
Correct Answer:
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Q172: Use the following to answer questions:
Q173: Consider an economy that produces only DVDs
Q174: Chained dollars is:
A) money that banks are
Q175: Suppose that, in year 1, an economy
Q176: Suppose that, in year 1, an economy
Q178: Use the following to answer questions:
Q179: Real GDP is:
A) the value of the
Q180: Nominal GDP:
A) has not been adjusted for
Q181: If nominal GDP decreases from one year
Q182: Real GDP per capita is:
A) a perfect
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