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Social Science Clinic => Economics => Macroeconomics => Topic started by: SGallaher96 on Mar 16, 2019

Title: Table 8-8 Refer to Table 8-8. Suppose that a simple economy produces only four goods and services: ...
Post by: SGallaher96 on Mar 16, 2019

Table 8-8









Refer to Table 8-8.  Suppose that a simple economy produces only four goods and services: sweaters, CDs, sugar, and soft drinks. Assume one half of the sugar is used in making the soft drinks and the other half of the sugar is purchased by households. Calculate nominal GDP for this simple economy.

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

Nominal GDP equals (50 × $50) + (150 × $10) + ((600 × .5) × $1)) + (800 × 0.75) = $4,900.

Title: Re: Table 8-8 Refer to Table 8-8. Suppose that a simple economy produces only four goods and service
Post by: Denis Jurcik on Mar 13, 2020

Thank you