Solved

Use the Following to Answer Questions

Question 398

Multiple Choice

Use the following to answer questions:
Scenario: Real GDP
Suppose that in year 1 an economy produces 100 golf balls that sell for $3 each and 75 pizzas that sell for $8 each. The next year the economy produces 110 golf balls that sell for $3.25 each and 80 pizzas that sell for $9 each.
-(Scenario: Real GDP) Look at the scenario Real GDP. The growth rate of nominal GDP from year 1 to year 2 is:


A) 10%.
B) 7.8%.
C) 19.7%.
D) 8.8%.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions