Scenario: Bookland is a country that produces only books. In 1990, Bookland produced 10,000 books at a market price of $10 each. In 1991, Bookland produced 11,000 books at a market price of $12 each.
-Refer to the scenario above.Nominal GDP growth in Bookland from 1990 to 1991 was closest to ________.
A) 10 percent
B) 20 percent
C) 30 percent
D) 40 percent

Question

Quizplus · Accepted Answer

The Answer of Scenario: Bookland is a country that produces only books. In 1990, Bookland produced 10,000 books at a market price of $10 each. In 1991, Bookland produced 11,000 books at a market price of $12 each.
-Refer to the scenario above.Nominal GDP growth in Bookland from 1990 to 1991 was closest to ________.
A) 10 percent
B) 20 percent
C) 30 percent
D) 40 percent

Scenario: Bookland Is a Country That Produces Only Books