Assume an economy produces only footballs and baseballs and the base year is 2016. 
Given the data in the table above, what is the value of real GDP in 2017?
A) $9,000
B) $10,000
C) $12,000
D) $12,500
Correct Answer:
Verified
Q124: In the base year, real GDP _
Q125: A measure of GDP in which quantities
Q126: Real GDP is measured in _ prices;
Q127: If prices in the current year are
Q128: Nominal GDP measures the _ of production.
A)change
Q130: Assume an economy produces only footballs and
Q131: To compare the change in physical production
Q132: Assume an economy produces only hamburgers and
Q133: Comparisons of economic activity over time should
Q134: Bob's Barber Shop cut 3,000 heads of
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