Answer the question based on the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year. Refer to the above data. In year 4, nominal GDP would be:
A) $60
B) $90
C) $120
D) $316

Question

Answer the question based on the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year.  Refer to the above data. In year 4, nominal GDP would be:
A) $60 
B) $90 
C) $120 
D) $316

Quizplus · Accepted Answer

The Answer of Answer the question based on the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year.  Refer to the above data. In year 4, nominal GDP would be:
A) $60 
B) $90 
C) $120 
D) $316

Answer the Question Based on the Following Price and Output