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For the Following Question(s), Suppose an Economy Produces Only Pens

Question 7

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For the following question(s) , suppose an economy produces only pens and pencils, and that the quantity and price data is given by this table:
For the following question(s) , suppose an economy produces only pens and pencils, and that the quantity and price data is given by this table: -What is the real GDP in year 1 using base year 1? A) $418 B) $300 C) $360 D) $338 E) $294
-What is the real GDP in year 1 using base year 1?


A) $418
B) $300
C) $360
D) $338
E) $294

Correct Answer:

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