An economy produces two goods: hot dogs and burgers.  In 2014, 15 hot dogs are produced at a price of $2 each, and 20 burgers at a price of $7 each.  In 2015, 20 hot dogs are produced at a price of $4 each, and 30 burgers at a price of $8

Economics For Today
10th Edition
ISBN:9781337613040
Author:Tucker
Publisher:Tucker
Chapter15: Gross Domestic Product
Section: Chapter Questions
Problem 16SQ
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 An economy produces two goods: hot dogs and burgers.  In 2014, 15 hot dogs are produced at a price of $2 each, and 20 burgers at a price of $7 each.  In 2015, 20 hot dogs are produced at a price of $4 each, and 30 burgers at a price of $8 each. Find the following: Nominal GDPs

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