Use the Table Below to Answer the Following Questions

question 13

Multiple Choice

Use the table below to answer the following questions.
Table 4.2.6
There are only two goods in this economy.
-Refer to Table 4.2.6.Consider the data in this table.What is real GDP in the current year in terms of base- year prices?

• A)$180
• B)$150
• C)$460
• D)$350
• E)80 loaves of bread and 100 cartons of milk

---

Definitions:

Appraisal

The process of professionally estimating the value of a property, often used for taxation or sale purposes.

Purchase Price

The amount of money paid to buy a product or service, including any additional charges.

Business Entity Assumption

A principle that requires a business to be accounted for separately from its owner or other businesses, ensuring that the company's financial statements reflect only its own operations and financial position.

Personal Automobile

A vehicle intended for private use by individuals rather than for commercial or industrial purposes.