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Homework answers / question archive / 1)The country described in the table below produces and consumes only three goods: energy drinks, pizza, and t-shirts

1)The country described in the table below produces and consumes only three goods: energy drinks, pizza, and t-shirts

Economics

1)The country described in the table below produces and consumes only three goods: energy drinks, pizza, and t-shirts. The quantity produced and price of each good in 2016 and 2017 are provided. Good Quantity t-shirts 150 Energy drinks(cans) 600 Pizza (slices) 1,200 2016 Price $22 $1.50 $2.25 Quantity 170 600 1,100 2017 Price $20 $2 $3 Refer to the above table. What is nominal GDP for 2016? A) $5,850 B) $6,400 C) $6,900 D) $7,900

2)The country described in the table below produces and consumes only three goods: energy drinks, pizza, and t-shirts. The quantity produced and price of each good in 2016 and 2017 are provided. 2016 Price $22 $1.50 $2.25 Good Quantity t-shirts 150 Energy drinks(cans) 600 Pizza (slices) 1,200 Quantity 170 2017 Price $20 $2 $3 600 1,100 Refer to the above table. What is nominal GDP for 2017? A) $6,900 B) $7,400 C) $7,700 D) $7,900

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