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 2012?
A) $21,000.
B) $21,700.
C) $24,000.
D) $24,800.
E) $25,000.
Correct Answer:
Verified
Correct Answer:
Verified
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