For the Following Question(s), Suppose an Economy Produces Only Pens

question 43

Multiple Choice

For the following question(s) , suppose an economy produces only pens and pencils, and that the quantity and price data is given by this table:

-What is the real GDP in year 1 using base year 2?

• A) $418
• B) $300
• C) $360
• D) $338
• E) $294

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