Refer to Table below. Suppose that a simple economy produces only four goods and services: sweatshirts, dental examinations, coffee drinks, and coffee beans. Assume all of the coffee beans are used in the production of the coffee drinks. Using the information in the above table, nominal GDP for this simple economy equals:   Product Quantity Price Sweatshirts      50 $35.00 Dental examinations      40 75.00 Coffee drinks 1,000   4.00 Coffee beans 2,000    0.50   a. $9,750 b. $8,750 c. 3,090 units d. $7,250

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Refer to Table below. Suppose that a simple economy produces only four goods and services: sweatshirts, dental examinations, coffee drinks, and coffee beans. Assume all of the coffee beans are used in the production of the coffee drinks. Using the information in the above table, nominal GDP for this simple economy equals:

 

Product

Quantity

Price

Sweatshirts

     50

$35.00

Dental examinations

     40

75.00

Coffee drinks

1,000

  4.00

Coffee beans

2,000

   0.50


 

a.

$9,750

b.

$8,750

c.

3,090 units

d.

$7,250

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