The base year is 2011.A country only produces Blu-ray players.The price of a Blu-ray player in 2011 was $100.The price of a Blu-ray player was $90 in 2012.The quantity of Blu-ray players produced in 2011 was 10,000 units and in 2012 was 10,500 units.Nominal GDP in 2012 equals
A) $900,000.
B) $945,000.
C) $1,000,000.
D) $1,050,000.
E) an amount that cannot be determined without information about nominal GDP in 2008.
Correct Answer:
Verified
Q126: The base year is 2010.A country only
Q127: Q128: If nominal GDP increases from one year Q129: Q130: Nominal GDP increases Q132: In calculating GDP,economists Q133: The expenditure approach to measuring GDP is Q134: An increase in nominal GDP could result Q135: When calculating real GDP,the reference base year Q136: The base year is 2012.A country only
A)only if total production increases.
B)only
A)measure total expenditure as the
A)allows
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