Assume an economy produces only footballs and baseballs and the base year is 2005.
Given the data in the table above,what is the value of nominal GDP in 2006?
A) $10,000
B) $12,000
C) $12,500
D) $16,500
Correct Answer:
Verified
Q122: The table below gives the quantities
Q124: In the base year, real GDP _
Q125: Bob's Barber Shop cut 3,000 heads of
Q127: If prices in the current year are
Q128: Peg's Manicure Manor did 4,000 sets of
Q129: Peg's Manicure Manor did 4,000 sets of
Q129: The table below gives the quantities
Q130: Assume an economy produces only footballs
Q138: Bob's Barber Shop cut 3,000 heads of
Q139: Peg's Manicure Manor did 4,000 sets of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents