ne annual output and prices of a three-good economy are shown in the table BelOW. Quantity of Goods Tear 1 Quantity of Goods Tear 2 Good Price Year 1 Price Tear 2 $5 6. 4. 2. 4. $ 5 Quarts of ice crean Bottles of shanpoo Jars of peanut butter $4 3. $4 $42 $2 structions: Enter your answers as a whole number. What was the economy's nominal GDP in year 1? What was its nominal GDP in year 2?
ne annual output and prices of a three-good economy are shown in the table BelOW. Quantity of Goods Tear 1 Quantity of Goods Tear 2 Good Price Year 1 Price Tear 2 $5 6. 4. 2. 4. $ 5 Quarts of ice crean Bottles of shanpoo Jars of peanut butter $4 3. $4 $42 $2 structions: Enter your answers as a whole number. What was the economy's nominal GDP in year 1? What was its nominal GDP in year 2?
Chapter4: The Aggregate Economy
Section: Chapter Questions
Problem 6E
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