Table 15-5
A hypothetical country of Lahland produces only movies and popcorn.Quantities and prices of these goods for the last several years are shown below.The base year is 2009.
Prices and Quantities

-Refer to Table 15-5 What was this country's nominal GDP in 2009?

Question

Table 15-5
A hypothetical country of Lahland produces only movies and popcorn.Quantities and prices of these goods for the last several years are shown below.The base year is 2009.
Prices and Quantities
 
-Refer to Table 15-5 What was this country's nominal GDP in 2009?

Quizplus · Accepted Answer

Nominal GDP in 2009 can be calculated as the sum of nominal values of movies and popcorn produced in that year, which is ($8 x 800) + ($2.50 x 1,200) = $6,400 + $3,000 = $9,400.

Table 15-5 A Hypothetical Country of Lahland Produces Only Movies and Popcorn.Quantities