Only Three Goods Are Produced in an Economy in the Following

question 82

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.If the per unit prices of the three goods each were $1 in a base year used to construct a GDP price index, then real GDP in the current year:

• A)is $110.
• B)is $115.
• C)is $45.
• D)cannot be determined on the basis of this data.

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