In an economy with two goods, burgers and pizza, if pizza costs €15 per pie and burgers costs €5 per burger and if 1000 burger and 200 pizzas are produced in a year, then nominal GDP that year would be:
A) €24,000.
B) €8,000.
C) €16,000.
D) none of the above.
Correct Answer:
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Q13: Imputed rental income is:
A)the money people receive
Q14: Nominal GDP measures the:
A)dollar value of all
Q15: Q16: Real GDP equal: Q17: In an economy with two goods, beer Q19: Government purchases include: Q20: Gross private domestic expenditure includes: Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents![]()
A)nominal GDP times the implicit
A)state and local government purchases.
B)tax
A)fixed investment.
B)change in