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Loraine Loraine
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9 years ago
The base year is 2010. A country only produces MP3 players. The price of an MP3 player in 2008 was $50. The price of an MP3 player was $30 in 2010. The quantity of MP3 players produced in 2008 was 10,000 units and in 2010 was 20,000 units. Nominal GDP in 2010 equals
A) $1,000,000.
B) $500,000.
C) $600,000.
D) $200,000.
E) an amount that cannot be determined without information about real GDP in 2010.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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Chimelo46Chimelo46
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9 years ago
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8 years ago
It was nothing, thanks for updating us.
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