Assume an economy produces only hamburgers and hotdogs and the base year is 2005.__ 
Given the data in the table above, what is the value of nominal GDP in 2006?
A) $ 5,000
B) $ 7,000
C) $10,500
D) $15,000
Correct Answer:
Verified
Q105: Assume an economy produces only hamburgers and
Q106: Assume an economy produces only footballs and
Q106: A measure of GDP in which quantities
Q108: Real GDP measures the _ of production;
Q112: To compare the change in physical production
Q113: Capital income includes:
A)profits, rent, and interest.
B)wages and
Q124: In the base year, real GDP _
Q126: Real GDP is measured in _ prices;
Q127: If prices in the current year are
Q128: Nominal GDP measures the _ of production.
A)change
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