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Assume an Economy Is Producing Only One Product and That

Question 94

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Assume an economy is producing only one product and that year 1 is the base year.Output and price data for a five-year period are as follows:
Assume an economy is producing only one product and that year 1 is the base year.Output and price data for a five-year period are as follows: -Refer to the information above to answer this question.What is the nominal GDP in year 2? A) $180. B) $2,250. C) $2,000. D) $2,500.
-Refer to the information above to answer this question.What is the nominal GDP in year 2?


A) $180.
B) $2,250.
C) $2,000.
D) $2,500.

Correct Answer:

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