Use the following to answer questions: Table: Three-Good Economy I
-(Table: Three-Good Economy I) Suppose an economy produces only the three final goods shown in the table. The table gives information on the quantities produced and the prices of goods sold in 2008 and 2009. What is the nominal GDP in 2008?
A) $20,134
B) $21,134
C) $25,260
D) $26,260
Correct Answer:
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Q91: The measure of GDP that has NOT
Q92: Use the following to answer questions:
Q93: If GDP was $10 billion in 2010
Q94: A nominal variable is one that:
A) uses
Q95: Use the following to answer questions:
Q97: The measure of GDP that has been
Q98: A real variable is one that:
A) uses
Q99: What is the term for GDP when
Q100: Use the following to answer questions:
Q101: Increases in real GDP are considered the
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