This topic contains a solution. Click here to go to the answer

Author Question: Refer to Table 8-21. Consider the following data for a simple economy: Calculate nominal GDP and ... (Read 71 times)

D2AR0N

  • Hero Member
  • *****
  • Posts: 561
Refer to Table 8-21. Consider the following data for a simple economy: Calculate nominal GDP and real GDP for 2016, using 2014 as the base year. Show your work.
 
  What will be an ideal response?

Question 2

In economics, the term free market refers to a market where no sales tax is imposed on products sold.
 
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

GCabra

  • Sr. Member
  • ****
  • Posts: 331
Answer to Question 1

Nominal GDP for 2016 equals (250  

Answer to Question 2

FALSE




D2AR0N

  • Member
  • Posts: 561
Reply 2 on: Jun 29, 2018
Excellent


bigsis44

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

For a complete list of videos, visit our video library