Table 8-11
Consider the following data for Tyrovia,a country that produces only two products: guns and butter.
-Refer to Table 8-11.Real GDP for Tyrovia for 2018 using 2009 as the base year equals
A)$1,140.
B)$880.
C)$690.
D)$560.

Question

Table 8-11
  Consider the following data for Tyrovia,a country that produces only two products: guns and butter.
-Refer to Table 8-11.Real GDP for Tyrovia for 2018 using 2009 as the base year equals
A)$1,140. 
B)$880. 
C)$690. 
D)$560.

Quizplus · Accepted Answer

To calculate the real GDP for Tyrovia for 2018 using 2009 as the base year, you need to use the quantities of goods and services produced in 2018 and the prices from the base year (2009). Without the specific data from Table 8-11, the correct answer cannot be directly calculated here. However, based on the provided options, if C) $690 is the correct answer, it implies that when applying the prices from 2009 to the quantities from 2018, the total value of goods and services produced in Tyrovia in 2018 amounts to $690.

Table 8-11 Consider the Following Data for Tyrovia,a Country That