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The following table contains prices and quantities for the three goods produced in the country of ...

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The following table contains prices and quantities for the three goods produced in the country of ...

The following table contains prices and quantities for the three goods produced in the country of Linfieldia.

Year	Price of a Notebook	Quantity of Notebooks	Price of a Thesis	Quantity of Theses	Price of a Doughnut	Quantity of Doughnuts
2014	$2.00	80	$830	6	$0.50	400
2015	$2.50	75	$780	8	$1.00	400
2016	$3.00	90	$1,500	3	$1.00	350

Refer to the table above. Assuming that 2015 is the base year, what is nominal GDP for 2016?

▸ $5,900

▸ $6,330

▸ $5,120

▸ $5,450

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

Read 91 times

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