Assume an economy which is producing only one product.Output and price data for a three-year period are as follows.

-Refer to the above data.If year 2 is chosen as the base year,real GDP for year 1 is:
A) $25
B) $100
C) $50
D) $80

Question

Assume an economy which is producing only one product.Output and price data for a three-year period are as follows.
 
-Refer to the above data.If year 2 is chosen as the base year,real GDP for year 1 is:
A) $25 
B) $100 
C) $50 
D) $80

Quizplus · Accepted Answer

The Answer of Assume an economy which is producing only one product.Output and price data for a three-year period are as follows.
 
-Refer to the above data.If year 2 is chosen as the base year,real GDP for year 1 is:
A) $25 
B) $100 
C) $50 
D) $80

Assume an Economy Which Is Producing Only One Product