-The table above gives the production and prices for a small nation that produces only bread and soda.The base year is 2010.What is real GDP in 2010?
A)$530
B)$1080
C)$510
D)$210
E)$300

Question

-The table above gives the production and prices for a small nation that produces only bread and soda.The base year is 2010.What is real GDP in 2010?
A)$530 
B)$1080 
C)$510 
D)$210 
E)$300

Quizplus · Accepted Answer

Real GDP in the base year (2010) is calculated using the prices and quantities of that year. Since it's the base year, nominal GDP equals real GDP, which is $510.

-The Table Above Gives the Production and Prices for a Small