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Social Science Clinic => Economics => Macroeconomics => Topic started by: roselinechinyere27m on Mar 16, 2019

Title: Table 8-7 Refer to Table 8-7. Suppose that a simple economy produces only four goods and services: ...
Post by: roselinechinyere27m on Mar 16, 2019

Table 8-7







Refer to Table 8-7.  Suppose that a simple economy produces only four goods and services: iPods, t-shirts, bottled water, and oranges. Calculate nominal GDP for this simple economy.

Title: Table 8-7 Refer to Table 8-7. Suppose that a simple economy produces only four goods and services: ...
Post by: sabina576 on Mar 16, 2019

Nominal GDP equals (20 × $125) + (100 × $20) + (2,000 × $1) + (600 × $0.50) = $6,800.

Title: Table 8-7 Refer to Table 8-7. Suppose that a simple economy produces only four goods and services: ...
Post by: roselinechinyere27m on Mar 16, 2019

Excellent

Title: Table 8-7 Refer to Table 8-7. Suppose that a simple economy produces only four goods and services: ...
Post by: sabina576 on Mar 16, 2019

Great! Please up vote :D