Homework answers / question archive / Below are some data from the land of milk and honey: Year Price of Milk Quantity of Milk Price of Honey Quantity of Honey 2016 $1 100 quarts $2 50 quarts 2017 1 200 2 100 2018 2 200 4 100   What are the nominal and real GDP of 2017? ~ $200: $400 ~ $400: $400 ~ $800: $400 “ $800; $800

Below are some data from the land of milk and honey: Year Price of Milk Quantity of Milk Price of Honey Quantity of Honey 2016 $1 100 quarts $2 50 quarts 2017 1 200 2 100 2018 2 200 4 100   What are the nominal and real GDP of 2017? ~ $200: $400 ~ $400: $400 ~ $800: $400 “ $800; $800

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Below are some data from the land of milk and honey:
Year Price of Milk Quantity of Milk Price of Honey Quantity of Honey
2016 $1 100 quarts $2 50 quarts
2017 1 200 2 100
2018 2 200 4 100

What are the nominal and real GDP of 2017?

~ $200: $400

~ $400: $400

~ $800: $400

“ $800; $800