Use the following to answer questions: Table: iPhones $$\begin{array} { l c c }
\hline \text { Year } & \text { Quantity produced } & \text { Price } \
\hline 2000 & 100 & \$ 100 \
2010 & 90 & 110 \
\hline
\end{array}$$
-(Table: iPhones) This table shows data for a country producing only iPhones. Its real GDP in 2010 (in 2000 dollars) is:
A) $9,000.
B) $9,900.
C) $10,000.
D) $10,800.

Question

Use the following to answer questions: Table: iPhones $$\begin{array} { l c c } 
\hline \text { Year } & \text { Quantity produced } & \text { Price } \
\hline 2000 & 100 & \$ 100 \
2010 & 90 & 110 \
\hline
\end{array}$$
-(Table: iPhones) This table shows data for a country producing only iPhones. Its real GDP in 2010 (in 2000 dollars) is:
A) $9,000.
B) $9,900.
C) $10,000.
D) $10,800.

Quizplus · Accepted Answer

Real GDP in 2010 using 2000 prices is calculated by multiplying the 2010 quantity by the 2000 price: 90 iPhones * $100 = $9,000.

Use the Following to Answer Questions: Table: IPhones -(Table: IPhones) This Table Shows Data for a Country Producing