Table 4.19 2007 2017 Product Quantity Price Quantity Price Movie 20 $6.00 30 $7.00 Burgers 100 2.00 90 2.50 Bikes 3 1,000.00 6 1,100.00A very simple economy produces three goods: movies, burgers, and bikes. The quantities produced and their corresponding prices for 2007 and 2017 are shown in the table above. Refer to Table 4.19. What is nominal GDP in 2017? $3,320 $3,690 $6,360 $7,035 $8,340

Table 4.19 2007 2017 Product Quantity Price Quantity Price Movie 20 $6.00 30 $7.00 Burgers 100 2.00 90 2.50 Bikes 3 1,000.00 6 1,100.00A very simple economy produces three goods: movies, burgers, and bikes. The quantities produced and their corresponding prices for 2007 and 2017 are shown in the table above. Refer to Table 4.19. What is nominal GDP in 2017? $3,320 $3,690 $6,360 $7,035 $8,340

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

ChapterA: Working With Diagrams

Section: Chapter Questions

Problem 1QP

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