Table 19-17 a Very Simple Economy Produces Three Goods: Movies

question 133

Multiple Choice

Table 19-17
A very simple economy produces three goods: movies, burgers, and bikes. The quantities produced and their corresponding prices for 2013 and 2018 are shown in the table above.
-Refer to Table 19-17. What is real GDP in 2018, using 2013 as the base year?

• A) $3,320
• B) $3,690
• C) $6,360
• D) $7,035

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Definitions:

Generativity

Refers to the concern for establishing and guiding the next generation, commonly associated with midlife.

Middle Age

A period of human adulthood that typically ranges from around 40 to 65 years of age, often marked by increased personal, social, and professional responsibilities.

Correlates Positively

Describes a relationship where an increase in one variable is associated with an increase in another variable.

Income

The amount of money received on a regular basis, typically for work or through investments.