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(Table) the Associated Table Provides a Hypothetical Bundle of Goods

Question 234

Multiple Choice

(Table) The associated table provides a hypothetical bundle of goods. If 2014 is selected as the base year, the value of nominal GDP in 2017 would be:  Product Q2010Q2014Q2017P2010P2014P2017 Apples (5-lb. bag)  101112$3.00$4.00$4.25 Coffee beans (1-lb. bag)  505055$8.00$9.00$10.00 Cereal (28-oz. box)  202529$3.50$3.75$3.75\begin{array} { | l | c | c | c | c | c | c | } \hline \text { Product } & \mathbf { Q } _ { 2010 } & \mathbf { Q } _ { 2014 } & \mathbf { Q } _ { 2017 } & \mathbf { P } _ { 2010 } & \mathbf { P } _ { 2014 } & \mathbf { P } _ { 2017 } \\\hline \text { Apples (5-lb. bag) } & 10 & 11 & 12 & \$ 3.00 & \$ 4.00 & \$ 4.25 \\\hline \text { Coffee beans (1-lb. bag) } & 50 & 50 & 55 & \$ 8.00 & \$ 9.00 & \$ 10.00 \\\hline \text { Cereal (28-oz. box) } & 20 & 25 & 29 & \$ 3.50 & \$ 3.75 & \$ 3.75 \\\hline\end{array}


A) $565.00.
B) $500.00.
C) $709.75.
D) $651.75.

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