Nominal GDP is the value of final goods and services A) at the ...

[abarnes]

Nominal GDP is the value of final goods and services
 
  A) at the prices of that year.
  B) at the prices of the immediately previous year.
  C) at the prices of a base year.
  D) produced in foreign countries but consumed in the domestic country.

Question 2

A 20 percent increase in the quantity of pizza demanded results from a 10 percent decline in its price. The price elasticity of demand for pizza is
 
  A) 0.5.
  B) 2.0.
  C) 10.0.
  D) 20.0.

[Kimmy]

Answer to Question 1

A

Answer to Question 2

B

[abarnes]

Thanks for the timely response, appreciate it

[xiaomengxian]

YES! Correct, THANKS for helping me on my review