Refer to the information provided in Table 6.10 below to answer the questions that follow.
Table 6.10
-Refer to Table 6.10. Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 2 is
A) $120.
B) $122.
C) $132.
D) $140.

Question

Refer to the information provided in Table 6.10 below to answer the questions that follow.
Table 6.10 
-Refer to Table 6.10. Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 2 is
A) $120. 
B) $122. 
C) $132. 
D) $140.

Quizplus · Accepted Answer

Nominal GDP in year 2 is calculated by multiplying the quantities of goods produced in year 2 by their prices in year 2. Without the specific table data, the correct answer is based on the assumption that the calculation aligns with option C, $132, as the most accurate reflection of nominal GDP for that year.

Refer to the Information Provided in Table 6