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B88101 B88101
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Scenario: An economy produces only cell phones. In 2015, the economy manufactured 275 cell phones, and each cell phone sold for $200. In 2016, the economy manufactured 280 cell phones, but the price of each cell phone fell to $180.


Refer to the scenario above. Using 2015 as the base year, what was the real GDP of the economy in 2016?

▸ $49,500

▸ $47,000

▸ $55,000

▸ $56,000
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Macroeconomics

Macroeconomics


Edition: 3rd
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mavrik8511mavrik8511
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