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Assume an Economy That Makes Only One Product and That

Question 110

Multiple Choice

Assume an economy that makes only one product and that year 3 is the base year.Output and price data for a five-year period are as follows.Answer the question on the basis of these data.  Year 12345 Units of Output34678 Price Per  Unit $34578\begin{array}{c}\begin{array}{c}\\\underline{\text { Year }} \\1 \\2 \\3 \\4 \\5\end{array}\begin{array}{c}\text { Units of}\\\underline{\text { Output}}\\3 \\4 \\6 \\7 \\8\end{array}\begin{array}{c}\text { Price Per } \\\underline{\text { Unit } }\\ \$ 3 \\4 \\5 \\7 \\8\end{array}\end{array}
Refer to the data.Real GDP for year 5 is:


A) $160.
B) $49.
C) $40.
D) $64.

Correct Answer:

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