Table 23-11 Table 23-12

question 6

Essay

Table 23-11
Table 23-12
A country produces only ice cream and cake in the quantities and prices listed below. Use 2011 as the base year.
-Refer to Table 23-12. Calculate real and nominal GDP for the year 2012.

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Definitions:

Net Profit

The actual profit after all expenses and taxes have been deducted from total revenue.

Disinfectants

Substances used to kill or inhibit the growth of harmful microorganisms on surfaces, objects, or skin.

Hydrogen

A colorless, odorless, tasteless, and highly flammable diatomic gas that is the simplest and lightest element, often used in chemical reactions and as a potential clean energy source.

Oxygen

A chemical element with symbol O and atomic number 8, essential for most forms of life and a critical component of the Earth's atmosphere.