Table 19-18
A very simple economy produces three goods: cameras, legal services, and books. The quantities produced and their corresponding prices for 2008 and 2013 are shown in the table above.
-Refer to Table 19-18. What is real GDP in 2013, using 2008 as the base year?
A) $28,885
B) $11,790
C) $11,200
D) $10,275
Correct Answer:
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Q165: If prices are rising on average,then
A)real GDP
Q169: Nominal GDP is another term for
A)inflation-adjusted GDP.
B)real
Q169: The measure of production that values output
Q170: If real GDP increases we know for
Q175: Nominal GDP will increase
A)only if the price
Q181: Table 19-18 Q182: Table 19-18 Q184: If the GDP deflator rises from 185 Q187: Table 19-17 Q195: When the BEA calculates real GDP using 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
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