Multiple Choice
The base year is 2011.A country only produces Blu-ray players.The price of a Blu-ray player in 2011 was $100.The price of a Blu-ray player was $90 in 2012.The quantity of Blu-ray players produced in 2011 was 10,000 units and in 2012 was 10,500 units.Nominal GDP in 2012 equals
A) $900,000.
B) $945,000.
C) $1,000,000.
D) $1,050,000.
E) an amount that cannot be determined without information about nominal GDP in 2008.
Correct Answer:
Verified
Correct Answer:
Verified
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