Table 8-13
Consider the data shown above for Vicuna,a country that produces only two products: oranges and shirts.
-Refer to Table 8-13.Nominal GDP for Vicuna for 2016 equals

Question

Table 8-13
  Consider the data shown above for Vicuna,a country that produces only two products: oranges and shirts.
-Refer to Table 8-13.Nominal GDP for Vicuna for 2016 equals

Quizplus · Accepted Answer

Nominal GDP is calculated by multiplying the quantity of goods produced by their current prices. Without the specific data from Table 8-13, the correct answer is based on the assumption that the question provides accurate options. Given that A is the correct choice, it implies that when you multiply the quantities of all goods and services produced in Vicuna in 2016 by their prices in 2016, the total comes to $4,920.

Table 8-13 Consider the Data Shown Above for Vicuna,a Country