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Use the following table to answer the next question. The base year is 2007. Hot Dogs Baseballs Bottles of Soda Price Quantity Price Quantity Price Quantity Year $2.00 $5.00 50 100 5.00 5.00 100 8.00 200 10.00 200 Real GDP (constant dollars) for 2005 equals 2005 100 $2.00 2.00 2.00 4.00 200 4.00 100 2006 4.00 100 150 2007 6.00 100 200 2008 8.00 150 2009 10.00 200 250 A) $650 B) $1500 C) $1050 D) $100

Use the following table to answer the next question. The base year is 2007. Hot Dogs Baseballs Bottles of Soda Price Quantity Price Quantity Price Quantity Year $2.00 $5.00 50 100 5.00 5.00 100 8.00 200 10.00 200 Real GDP (constant dollars) for 2005 equals 2005 100 $2.00 2.00 2.00 4.00 200 4.00 100 2006 4.00 100 150 2007 6.00 100 200 2008 8.00 150 2009 10.00 200 250 A) $650 B) $1500 C) $1050 D) $100

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Use the following table to answer the next question. The base year is 2007. Hot Dogs Baseballs Bottles of Soda Price Quantity Price Quantity Price Quantity $5.00 5.00 5.00 8.00 10.00 Year 50 100 100 200 200 $2.00 2.00 2.00 4.00 4.00 2005 $2.00 100 100 4.00 6.00 8.00 10.00 200 Real GDP (constant dollars) for 2005 equals 2006 100 150 2007 100 200 2008 150 200 2009 250 A) $650 O B) $1500 C) $1050 D) $100
Transcribed Image Text:Use the following table to answer the next question. The base year is 2007. Hot Dogs Baseballs Bottles of Soda Price Quantity Price Quantity Price Quantity $5.00 5.00 5.00 8.00 10.00 Year 50 100 100 200 200 $2.00 2.00 2.00 4.00 4.00 2005 $2.00 100 100 4.00 6.00 8.00 10.00 200 Real GDP (constant dollars) for 2005 equals 2006 100 150 2007 100 200 2008 150 200 2009 250 A) $650 O B) $1500 C) $1050 D) $100
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