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C) Product Quantity Price Sweatshirts QTY: 50 PRICE: $35

Economics

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C) Product Quantity Price

Sweatshirts QTY: 50 PRICE: $35.00

Dental examinations QTY: 40 PRICE $75.00

Coffee drinks QTY: 1000 PRICE: $4.00

Chewing gum QTY: 2000 PRICE: $0.50

Suppose that a simple economy produces only sweatshirts, dental examinations, coffee drinks, and chewing gum. Using the information in the above table, nominal GDP for this simple economy equals:

A) $7,250

B) $8,750

C) $9,750

D) None of these are correct