Multiple Choice
Bob's Barber Shop gave 3,000 haircuts in the year 2011 and 3,100 in the year 2012.The price of a haircut was $7 in 2011 and $8 in 2012.If the year 2011 is the base year,what was Bob's contribution to nominal GDP in the year 2011?
A) $21,000.
B) $21,700.
C) $24,000.
D) $24,800.
E) $25,000.
Correct Answer:
Verified
Correct Answer:
Verified
Q26: If Turkey has substantially less foreign investment
Q27: Three equivalent ways to measure GDP are
Q28: Corporate and like profits before taxes are
Q29: In the base year,real GDP _ nominal
Q30: Real GDP measures the _ of current
Q32: If business inventories equal $40 billion at
Q33: The total market value of production in
Q34: Capital goods are treated as _ goods
Q35: Data for an economy show that the
Q36: Data for an economy show that the