Table 4.7 -Refer to Table 4.7.Suppose That a Simple Economy Produces Only

Essay

Table 4.7
-Refer to Table 4.7.Suppose that a simple economy produces only four goods and services: sweaters, CDs, sugar, and soft drinks.Assume one half of the sugar is used in making the soft drinks and the other half of the sugar is purchased by households.Calculate nominal GDP for this simple economy.