Consider the Following Data, Which Shows the Quantities and Prices

question 92

Multiple Choice

Consider the following data, which shows the quantities and prices of two goods produced in the economy, to answer the following questions:
-Assuming these are the only two goods produced in the economy,what is the value of the gross domestic product (GDP) ?

• A) $110 million
• B) $750 million
• C) $2 million
• D) $250 million
• E) $500 million

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Definitions:

Voting Stock

Shares of a corporation that give the shareholder the right to vote on matters of corporate policy and on the selection of the board of directors.

Cash Dividend

A disbursement from a corporation to its stockholders, typically coming from its earnings.

Net Income

The ultimate earnings of a company, arrived at by reducing its revenues by all incurred expenses and taxes.

Nonvoting Preferred Stock

A type of preferred stock that does not grant the holder voting rights at the corporation’s shareholders' meetings.