A hypothetical country of Lahland produces only movies and popcorn. Quantities and prices of these goods for the last several years are shown below. The base year is 2015 . Prices and Quantities Year Price ofMovies Quantity of Movies Price of Popcorn Quantity ofPopcorn 2014 $10.00 500 $5 1000 2015 $11.00 600 $4 900 2016 $12.00 650 $5 950 2017 $12.00 625 $6 925     Refer to Table 23-10. What was this country’s real GDP in 2016?     a. $11,250   b. $12,550   c. $10,575   d. $10,950

Microeconomics: Private and Public Choice (MindTap Course List)
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Chapter14: Investment, The Capital Market, And The Wealth Of Nations
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A hypothetical country of Lahland produces only movies and popcorn. Quantities and prices of these goods for the last several years are shown below. The base year is 2015 .

Prices and Quantities

Year

Price of
Movies

Quantity of Movies

Price of Popcorn

Quantity of
Popcorn

2014

$10.00

500

$5

1000

2015

$11.00

600

$4

900

2016

$12.00

650

$5

950

2017

$12.00

625

$6

925


 

 

Refer to Table 23-10. What was this country’s real GDP in 2016?

 

  a.

$11,250

  b.

$12,550

  c.

$10,575

  d.

$10,950

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