Refer to the information provided in Table 6.5 below to answer the questions that follow.
Table 6.5

-Refer to Table 6.5.Assume that this economy produces only two goods Good X and Good Y.If year 1 is the base year,the value for this economy's real GDP in year 2 is
A)$168.
B)$179.
C)$202.
D)$214.

Question

Refer to the information provided in Table 6.5 below to answer the questions that follow.
Table 6.5
 
-Refer to Table 6.5.Assume that this economy produces only two goods Good X and Good Y.If year 1 is the base year,the value for this economy's real GDP in year 2 is
A)$168. 
B)$179. 
C)$202. 
D)$214.

Quizplus · Accepted Answer

To calculate real GDP for year 2 using year 1 as the base year, we need to use the prices from year 1 and the quantities from year 2. The correct calculation based on the given options results in a real GDP of $168.

Refer to the Information Provided in Table 6