Table 4-18 Product Camera Legal services Books Quantity Price Quantity $28,885 2013 $11,790 $11,200 O $10,275 100 50 200 $10 $15 2018 $40 120 45 210 Price $12 Refer to Table 4-18. A simple economy produces three goods: cameras, legal services, and books. The quantities produced and their corresponding prices for 2013 and 2018 are shown in the table above. What is real GDP in 2018, using 2013 as the base year? $20 $45

Table 4-18 Product Camera Legal services Books Quantity Price Quantity $28,885 2013 $11,790 $11,200 O $10,275 100 50 200 $10 $15 2018 $40 120 45 210 Price $12 Refer to Table 4-18. A simple economy produces three goods: cameras, legal services, and books. The quantities produced and their corresponding prices for 2013 and 2018 are shown in the table above. What is real GDP in 2018, using 2013 as the base year? $20 $45

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter4: The Aggregate Economy

Section: Chapter Questions

Problem 6E

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