Oranges Price of Shirts Price of Year Produced Oranges Produced Shirts 2016 1,800 $0.90 100 $30.00 2018 2,000 1.00 110 35.00 Consider the data shown above for Vicuna, a country that produces only two products: oranges and shirts. Refer to Table 8-13. Nominal GDP for Vicuna for 2016 equals

Oranges Price of Shirts Price of Year Produced Oranges Produced Shirts 2016 1,800 $0.90 100 $30.00 2018 2,000 1.00 110 35.00 Consider the data shown above for Vicuna, a country that produces only two products: oranges and shirts. Refer to Table 8-13. Nominal GDP for Vicuna for 2016 equals

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter5: Gross Domestic Product

Section: Chapter Questions

Problem 4SQP

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Question

Table 8-13
Oranges
Price of
Shirts
Price of
Year
Produced
Oranges
Produced
Shirts
2016
1,800
$0.90
100
$30.00
2018
2,000
1.00
110
35.00
Consider the data shown above for Vicuna, a country that
produces only two products: oranges and shirts.
Refer to Table 8-13. Nominal GDP for Vicuna for 2016
equals
O $4,620.
O $4,920.
O $5,850.
O $5,100.

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