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Author Question: Table 8-18 A very simple economy produces three goods: cameras, legal services, and books. The ... (Read 24 times)

notis

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on: Mar 16, 2019

Question 1

Table 8-17








A very simple economy produces three goods: movies, burgers, and bikes. The quantities produced and their corresponding prices for 2011 and 2016 are shown in the table above. 






Refer to Table 8-17. What is real GDP in 2016, using 2011 as the base year?


◦ $3,320
◦ $3,690
◦ $6,360
◦ $7,035

Question 2

Table 8-18








A very simple economy produces three goods: cameras, legal services, and books. The quantities produced and their corresponding prices for 2011 and 2016 are shown in the table above. 






Refer to Table 8-18. What is real GDP in 2016, using 2011 as the base year?


◦ $28,885
◦ $11,790
◦ $11,200
◦ $10,275
Macroeconomics ¦ Hubbard, O'Brien ¦ 6th Edition
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Marked as best answer by notis on Mar 16, 2019

meryzewe

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Reply #1 on: Mar 16, 2019
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notis

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Reply #2 on: Mar 16, 2019
Excellent


meryzewe

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Reply #3 on: Mar 16, 2019
Great! Please up vote :D


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