Only Three Goods Are Produced in an Economy in the Following

question 160

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.Refer to the above information.Nominal GDP in the current year is:

• A)$110
• B)$115
• C)$45
• D)$90

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Definitions:

Handscroll

A long, narrow scroll for displaying a series of scenes in East Asian art, viewed by unrolling from right to left.

Gu Kaizhi

A celebrated Chinese painter and poet of the Jin Dynasty, often considered the founder of classical Chinese landscape painting, known for works like "The Admonitions Scroll."

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An influential Chinese philosopher and social thinker, living in the 5th century BCE, whose teachings focus on ethics, morality, and social relationships.