Below is a summary of the goods produced by a small economy in 2017: Product Quantity Price per unit Rice $3 13,500 Flour 2 17,000 Olive oil 5 2,500 Sugar 4 19,000 Salt 2 16,500 What is the GDP for this economy in 2017? Select one: a. $233,800 b. $262,000 c. $196,000 d. $175,000
Below is a summary of the goods produced by a small economy in 2017: Product Quantity Price per unit Rice $3 13,500 Flour 2 17,000 Olive oil 5 2,500 Sugar 4 19,000 Salt 2 16,500 What is the GDP for this economy in 2017? Select one: a. $233,800 b. $262,000 c. $196,000 d. $175,000
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Below is a summary of the goods produced by a small economy in 2017:
Product Quantity Price per unit
Rice $3 13,500
Flour 2 17,000
Olive oil 5 2,500
Sugar 4 19,000
Salt 2 16,500
What is the
Select one:
a. $233,800
b. $262,000
c. $196,000
d. $175,000
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