Multiple Choice
Bookland is a country that produces only books. In 1990, Bookland produced 10,000 books at a market price of $10 each. In 1991, Bookland produced 11,000 books at a market price of $12 each.
-Refer to the scenario above. The nominal GDP in Bookland in 1991 was ________.
A) $110,000
B) $120,000
C) $132,000
D) $144,000
Correct Answer:
Verified
Correct Answer:
Verified
Q11: An economy produces only cell phones. In
Q12: The Federal Reserve is relatively independent. Which
Q13: The labor market in Delaware is depicted
Q14: Which of the following correctly identifies the
Q15: Suppose a firm sells its product in
Q16: Suppose a firm uses land, labor, and
Q17: Meryl works 10 hours a day in
Q19: Victoria Corp. makes running shoes by employing
Q20: In Oettinger's paper studying the labor supply
Q21: An economy produces only cell phones. In