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Loraine Loraine
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Posts: 4563
9 years ago
The base year is 2011. A country only produces Blu-ray players. The price of a Blu-ray player in 2011 was $100. The price of a Blu-ray player was $90 in 2012. The quantity of Blu-ray players produced in 2011 was 10,000 units and in 2012 was 10,500 units. Nominal GDP in 2012 equals
A) $900,000.
B) $945,000.
C) $1,000,000.
D) $1,050,000.
E) an amount that cannot be determined without information about nominal GDP in 2008.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
Read 317 times
3 Replies
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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Posts: 5641
9 years ago
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8 years ago
The textbook reference in your signature really helped me narrow it down.

Happy to help Wink Face
Anonymous
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2 months ago
Help! The answer is missing an explanation...
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