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
Q108: Real GDP measures the _ of production;
Q112: Labor income includes:
A)wages, salaries, and earnings of
Q112: To compare the change in physical production
Q113: Labor income in the U.S.equals approximately _
Q122: Assume an economy produces only footballs and
Q124: Bob's Barber Shop cut 3,000 heads of
Q124: In the base year, real GDP _
Q126: Real GDP is measured in _ prices;
Q128: Nominal GDP measures the _ of production.
A)change
Q136: Real GDP measures the _ of production.
A)change
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