Solved

The Table Contains Data for a Hypothetical Single-Product Economy

Question 107

Multiple Choice

 Year  Units of Output  Price of Bagel per Unit  Price Index ( Year 1=100) 110$10100212202003153030042040400\begin{array} { | c | c | c | c | } \hline \text { Year } & \text { Units of Output } & \text { Price of Bagel per Unit } & \text { Price Index } ( \text { Year } 1 = 100 ) \\\hline 1 & 10 & \$ 10 & 100 \\\hline 2 & 12 & 20 & 200 \\\hline 3 & 15 & 30 & 300 \\\hline 4 & 20 & 40 & 400 \\\hline\end{array} The table contains data for a hypothetical single-product economy. Real GDP in year 4 is


A) $320.
B) $450.
C) $200.
D) $800.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions