-The Table Above Gives the Production and Prices for a Small

question 57

Multiple Choice

-The table above gives the production and prices for a small nation that produces only bread and soda. The base year is 2015. What is real GDP in 2016?

• A) $300
• B) $210
• C) $510
• D) $530
• E) $1080

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Definitions:

Petroleum

A naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons, used primarily as fuel and in chemical production.

Oil Shale

A fine-grained sedimentary rock from which liquid hydrocarbons (shale oil) can be produced, serving as a potential source of unconventional oil.

Oil Shale

Sedimentary rock containing organic matter that can be converted into shale oil through heating; a potential but controversial energy resource.

Oil and Gas

Natural hydrocarbon resources extracted from the Earth, used primarily for energy, heating, and in various industrial applications.