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For the Following Question(s), Suppose an Economy Produces Only Pens

Question 52

Multiple Choice

For the following question(s) , suppose an economy produces only pens and pencils, and that the quantity and price data is given by this table:
For the following question(s) , suppose an economy produces only pens and pencils, and that the quantity and price data is given by this table: -What is the real GDP in year 1 using base year 1? A) $418. B) $300. C) $360. D) $338. E) $294.
-What is the real GDP in year 1 using base year 1?


A) $418.
B) $300.
C) $360.
D) $338.
E) $294.

Correct Answer:

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