Peg's Manicure Manor Did 4,000 Sets of Nails in 2010

question 67

Multiple Choice

Peg's Manicure Manor did 4,000 sets of nails in 2010 and 4,500 sets of nails in 2011.The price of a set of nails was $20 in 2010 and $22 in 2011.If 2010 is the base year, Peg's contribution to real GDP in 2011 was ______ and to nominal GDP in 2011 was _____.

• A)$80,000; $88,000
• B)$80,000; $90,000
• C)$80,000; $99,000
• D)$90,000; $99,000

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Definitions:

Charitable Associations

Organizations established for philanthropic rather than financial gain, focusing on promoting welfare and social improvement.

Publicly Held Corporation

A corporation whose shares are eligible to be publicly traded in securities markets, such as the New York Stock Exchange.

Securities Markets

Financial marketplaces where securities such as stocks and bonds are issued and traded between investors.

New York Stock Exchange

A leading global securities exchange where buyers and sellers trade shares in public companies.