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Social Science Clinic => Economics => Macroeconomics => Topic started by: tsand2 on Mar 16, 2019

Title: Table 8-2 Refer to Table 8-2.Suppose that a simple economy produces only four goods and services: ...
Post by: tsand2 on Mar 16, 2019

Table 8-2







Refer to Table 8-2.  Suppose that a simple economy produces only four goods and services: shoes, DVDs, tomatoes, and ketchup. Assume one half of the tomatoes are used in making the ketchup and the other half of the tomatoes are purchased by households. Using the information in the above table, nominal GDP for this simple economy equals

◦ $7,400.
◦ $6,400.
◦ $5,800.
◦ 2,440 units.

Title: Table 8-2 Refer to Table 8-2.Suppose that a simple economy produces only four goods and services: ...
Post by: cadimas on Mar 16, 2019

$6,400.