Refer to the information provided in TableTableProductionPricesGood X 50Good Y 100Year 1 Year 2 Year 350$1.00$0.60Year 1 Year 2 Year 3$1.20$0.60$1.20$1.0060120140Refer to Table Assume that this economy produces only two goods Good X and Good Y.The value for this economy's nominal GDP in year 3 isSelect one:а.$212.b.$180.С.$144.d.$160. Refer to the information provided in TableTable$BillionsDurable goods600Nonresidential investment400Federal purchases of goodsExportsState and local purchases of goodsResidential investment350300100150Services900ImportsChange in business inventoriesNondurable goods100-40800Refer to Table The value for net exports in billions of dollars isSelect one:а. 200.b. 400.С. -200.d. 100.

NOTE: Since you have asked multiple questions we will be answering only the first one, if you need…

Refer to the information provided in Table Table Production Prices Year 1 Year 2 Year 3 $1.20 $1.00 Year 1 Year 2 Year 3 50 120 $1.00 $1.20 Good X 50 Good Y 100 60 140 $0.60 $0.60 Refer to Table Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 3 is Select one: а. $212. b. $180. С. $144. d. $160.

Refer to the information provided in Table Table Production Prices Year 1 Year 2 Year 3 $1.20 $1.00 Year 1 Year 2 Year 3 50 120 $1.00 $1.20 Good X 50 Good Y 100 60 140 $0.60 $0.60 Refer to Table Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 3 is Select one: а. $212. b. $180. С. $144. d. $160.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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