Assume that apples cost $0.50 in 2012 and $1 in 2019, whereas oranges cost $1 in 2012 and $1.50 in 2019. If 4 apples were produced in 2012 a 5 in 2019, whereas 3 oranges were produced in 2012 and 4 in 2019, then real GDP (in 2012 prices) in 2019 was Select one: a. $5 cross out b. $6.5 cross out c. $9.5 cross out d. $11 cross out e. $25 cross out
Assume that apples cost $0.50 in 2012 and $1 in 2019, whereas oranges cost $1 in 2012 and $1.50 in 2019. If 4 apples were produced in 2012 a 5 in 2019, whereas 3 oranges were produced in 2012 and 4 in 2019, then real GDP (in 2012 prices) in 2019 was Select one: a. $5 cross out b. $6.5 cross out c. $9.5 cross out d. $11 cross out e. $25 cross out
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter19: The Macroeconomic Perspective
Section: Chapter Questions
Problem 28P: Last year, a small nation with abundant forests cut down 200 worth of trees. It then turned 100...
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![Assume that apples cost $0.50 in 2012 and $1 in 2019, whereas oranges cost $1 in 2012 and $1.50 in 2019. If 4 apples were produced in 2012 and
5 in 2019, whereas 3 oranges were produced in 2012 and 4 in 2019, then real GDP (in 2012 prices) in 2019 was
Select one:
a. $5
cross out
b. $6.5
cross out
c. $9.5
cross out
d. $11
cross out
e. $25
cross out](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3243f77d-bc2d-4c71-a068-4d9d2cf2cdd1%2Fd4db781f-2db9-4f3d-85c5-c4a084dfa21a%2Fc8uehrr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Assume that apples cost $0.50 in 2012 and $1 in 2019, whereas oranges cost $1 in 2012 and $1.50 in 2019. If 4 apples were produced in 2012 and
5 in 2019, whereas 3 oranges were produced in 2012 and 4 in 2019, then real GDP (in 2012 prices) in 2019 was
Select one:
a. $5
cross out
b. $6.5
cross out
c. $9.5
cross out
d. $11
cross out
e. $25
cross out
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