Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Kk.31.
![In this economy, only two goods are produced: video games and pistachios.
National Income Accounting
Quantity of pistachios
Quantity of video games
Price of pistachios
Price of video games
2021
1,000
500
$1.00
$15.00
Using the Laspeyres index, the real GDP in 2021 will be
Ⓒa. $15,500
Ob. $8,900
Ⓒc. $8,500
d. $9,150
Ⓒe. $1,500
A
2022
1,100
500
$1.50
$14.75](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe98ea286-8582-448c-bea4-1116d5bf9d03%2F55ca2526-a21f-4af7-9d8f-6c4dbe5e6cc7%2Fzwl8wdu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In this economy, only two goods are produced: video games and pistachios.
National Income Accounting
Quantity of pistachios
Quantity of video games
Price of pistachios
Price of video games
2021
1,000
500
$1.00
$15.00
Using the Laspeyres index, the real GDP in 2021 will be
Ⓒa. $15,500
Ob. $8,900
Ⓒc. $8,500
d. $9,150
Ⓒe. $1,500
A
2022
1,100
500
$1.50
$14.75
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