Only Three Goods Are Produced in an Economy in the Following

question 75

Multiple Choice

Only three goods are produced in an economy in the following amounts: A = 10, B = 30, C = 5.The current year per unit prices of these three goods are A = $2, B = $3, and C = $1.If the per unit prices of the three goods each were $1 in a base year used to construct a GDP price index, then the GDP price index in the current year is:

• A)205.5.
• B)255.5.
• C)39.3.
• D)100

---

Definitions:

Social Facilitation

The phenomenon that individuals perform tasks better or differently when in the presence of others, due to increased arousal and motivation.

Empirical Studies

Research that is based on observation or experience rather than theory or pure logic.

Performance

Refers to the act of carrying out or accomplishing an action, task, or function, often evaluated in terms of its efficiency, effectiveness, and quality.

Social Facilitation

The enhancement of performance in the presence of others, typically observed in tasks that are simple or well-rehearsed.