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    Economics Study Set 9
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    Exam 19: Gdp: Measuring Total Production and Income
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    Table 19-7 -Refer to Table 19-7. Suppose That a Simple Economy Produces
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Table 19-7 -Refer to Table 19-7. Suppose That a Simple Economy Produces

Question 195

Question 195

Essay

Table 19-7
Table 19-7    -Refer to Table 19-7. Suppose that a simple economy produces only four goods and services: iPods, t-shirts, bottled water, and oranges. Calculate nominal GDP for this simple economy.
-Refer to Table 19-7. Suppose that a simple economy produces only four goods and services: iPods, t-shirts, bottled water, and oranges. Calculate nominal GDP for this simple economy.

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Nominal GDP equals (...

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