I need your help with the question attached. Thank you! Table: Doc's Coffee Economy Base year = 2012LattesMochasСаppuccinosScones2012 output50003000200010002012 priceS7$5$6$22013 output40002000300020002013 price$8$6$7$3Using the table above, nominal GDP2 pointsfor Doc's Coffee in 2013 was$47,000O $60,000O $71,000O $124,000O $131,000

The Nominal GDP is simply calculated by multiplying the production or output with prices of a given…

Answered: Using the table above, nominal GDP for…

Business

Economics

Using the table above, nominal GDP for Doc's Coffee in 2013 was O $47,000 O $60,000

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Measuring A Nation's Income

Section: Chapter Questions

Problem 4PA

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I need your help with the question attached. Thank you!

Table: Doc's Coffee Economy Base year = 2012
Lattes
Mochas
Саppuccinos
Scones
2012 output
5000
3000
2000
1000
2012 price
S7
$5
$6
$2
2013 output
4000
2000
3000
2000
2013 price
$8
$6
$7
$3
Using the table above, nominal GDP
2 points
for Doc's Coffee in 2013 was
$47,000
O $60,000
O $71,000
O $124,000
O $131,000

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