Use the Following Information to Answer the Next Several Questions

question 149

Multiple Choice

Use the following information to answer the next several questions:
Scenario 1: Imagine that an economy produces two goods, flashlights and fishing lures. In 2011, the economy produced 70 flashlights and 40 fishing lures, and the prices of flashlights and fishing lures were $5 and $12, respectively. In 2012, the economy produced 85 flashlights and 50 fishing lures, and the prices of flashlights and fishing lures were $7 and $15, respectively.
-Based on the information in Scenario 1, nominal GDP in 2012 in this economy was

• A) $830.
• B) $1,025.
• C) $1,090.
• D) $1,345.

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Definitions:

Strategic Communication Plan

A guided action plan designed to communicate effectively with specific audiences to achieve strategic goals.

Stakeholder Engagement

Stakeholder Engagement is the process by which an organization seeks to understand and involve its stakeholders, by communicating and collaborating with them in decision-making and activities.

Strategic Relationships

Collaborations formed between organizations with the aim to reach mutual goals and leverage each other's strengths.

Community Relations

The practice of managing and improving the relationship and interaction between an organization and the communities within which it operates.