Table 12-6
$\begin{array}{|l|r|c|}
\hline {\text { Product }} & \text { Quantity }& \text { Price per Unit } \
\hline \text { Coke } & 10,000 &\$2\
\hline \text { iPhones } & 2,000&150 \
\hline \text { Backpack.s } & 4,000 &25\
\hline \text { Hershey bars } & 8,000&1\
\hline
\end{array}$
-Refer to Table 12-6.Consider the table of production and price statistics for a small economy in 2018.If the economy only produces the four goods listed below,what is GDP for 2018?

Question

Table 12-6
 $\begin{array}{|l|r|c|}
\hline {\text { Product }} & \text { Quantity }& \text { Price per Unit } \
\hline \text { Coke } & 10,000 &\$2\
\hline \text { iPhones } & 2,000&150 \
\hline \text { Backpack.s } & 4,000 &25\
\hline \text { Hershey bars } & 8,000&1\
\hline
\end{array}$
-Refer to Table 12-6.Consider the table of production and price statistics for a small economy in 2018.If the economy only produces the four goods listed below,what is GDP for 2018?

Quizplus · Accepted Answer

GDP is calculated by summing the products of quantities and prices for all goods: (10,000 * $2) + (2,000 * $150) + (4,000 * $25) + (8,000 * $1) = $428,000.

Table 12-6 -Refer to Table 12-6