Ans) $ 319,250
Nominal GDP = 250* 1 + 550 * 550 + 1100 * 15 = 250 + 3,02,500+ 16,500 = 319,250
Jumpicie Ints Test: 65 pts pos A simple economy produces four goods, com combread, televisions, and...
A simple economy produces four goods, flour, bread, televisions, and computer games. All of the production of flour is used in the production of bread. Use the information in the following table to compute GDP for the current year. Product flour bread televisions computer games Quantity 105 210 750 1500 Price Per Unit $0.25 $1.00 $600.00 $30.00 In this year, the nominal value of GDP in this economy is $ 1.
A simple economy produces four goods,
corncorn,
cornbreadcornbread,
DVD playersDVD players,
and
video gamesvideo games
. All of the production of
corncorn
is used in the production of
cornbreadcornbread.
Use the information in the following table to compute GDP for
the current year.
A simple economy produces four goods, corn, cornbread, DVD players, and video games. All of the production of corn is used in the production of cornbread. Use the information in the following table to compute GDP for...