(HF19) The country of Singsville only produces apples. In 2007, the price of apples was $4 and 178 apples were produced. In 2008, the price of apples was $8 and 280 apples were produced. What was nominal GDP in Singsville in 2008? If the base year is 2007, what was real GDP in Singsville in 2008?

(HF19) The country of Singsville only produces apples. In 2007, the price of apples was $4 and 178 apples were produced. In 2008, the price of apples was $8 and 280 apples were produced. What was nominal GDP in Singsville in 2008? If the base year is 2007, what was real GDP in Singsville in 2008?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

(HF17 n 2000, the econnny of Lykrwille prodoced so0 in durable good, ss00 in nondunble goode, 17000 in seryices $17000 in stractures, and a s00 change in inventories o tiat
year.
What w Lykewville's GDP in 200

(HF19) The country of Singsville only produces apples. In 2007, the price of apples was $4 and 178 apples
were produced. In 2008, the price of apples was $8 and 280 apples were produced.
What was nominal GDP in Singsville in 2008?
If the base year is 2007, what was real GDP in Singsville in 2008?
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