Table 19-17
A very simple economy produces three goods: movies, burgers, and bikes. The quantities produced and their corresponding prices for 2006 and 2013 are shown in the table above.
-Refer to Table 19-17. What is real GDP in 2013, using 2006 as the base year?
A) $3,320
B) $3,690
C) $6,360
D) $7,035
Correct Answer:
Verified
Q165: If prices are rising on average,then
A)real GDP
Q168: In periods when prices are falling,on average,
A)real
Q169: Nominal GDP is another term for
A)inflation-adjusted GDP.
B)real
Q170: If real GDP increases we know for
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