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Author Question: Table 8-18 A very simple economy produces three goods: cameras, legal services, and books. The ... (Read 16 times)

Hungry!

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on: Mar 16, 2019

Question 1

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 2016 as the base year?


◦ $28,885
◦ $11,790
◦ $11,200
◦ $10,275

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 nominal GDP in 2016 when 2011 is 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 Hungry! on Mar 16, 2019

ASDFGJLO

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Reply #1 on: Mar 16, 2019
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Hungry!

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Reply 2 on: Mar 16, 2019
:D TYSM

hollysheppard095

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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