Harry's Pepperoni Pizza Parlor produced 10,000 large pepperoni pizzas last year that sold for $10 each. This year Harry's produced 9,000 large pepperoni pizzas (identical to last year's pizzas) but sold them for $15 each. Based on this information, we can conclude that Harry's production of large pepperoni pizzas Multiple Choice increased nominal GDP by $35,000. did not change nominal GDP. increased real GDP by $35,000. did not change real GDP.
Harry's Pepperoni Pizza Parlor produced 10,000 large pepperoni pizzas last year that sold for $10 each. This year Harry's produced 9,000 large pepperoni pizzas (identical to last year's pizzas) but sold them for $15 each. Based on this information, we can conclude that Harry's production of large pepperoni pizzas Multiple Choice increased nominal GDP by $35,000. did not change nominal GDP. increased real GDP by $35,000. did not change real GDP.
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Measuring A Nation's Income
Section: Chapter Questions
Problem 7QR
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Harry's Pepperoni Pizza Parlor produced 10,000 large pepperoni pizzas last year that sold for $10 each. This year Harry's produced 9,000 large pepperoni pizzas (identical to last year's pizzas) but sold them for $15 each. Based on this information, we can conclude that Harry's production of large pepperoni pizzas
Multiple Choice
- increased nominal
GDP by $35,000. - did not change nominal GDP.
- increased real GDP by $35,000.
- did not change real GDP.
please help me and give me best explanation thanku
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