The Table Contains Data for a Hypothetical Single-Product Economy

question 189

Multiple Choice

$$\begin{array} { | c | c | c | c | } \hline \text { Year } & \text { Units of Output } & \text { Price of Bagel per Unit } & \text { Price Index (Year 1=100) } \\\hline 1 & 10 & \$ 10 & 100 \\\hline 2 & 12 & 20 & 200 \\\hline 3 & 15 & 30 & 300 \\\hline 4 & 20 & 40 & 400 \\\hline\end{array}$$ The table contains data for a hypothetical single-product economy. Real GDP in year 3 is

• A) $100.
• B) $450.
• C) $225.
• D) $150.

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Definitions:

Data Collection

Data collection involves systematically gathering, measuring, and analyzing information from a variety of sources to gain insights, inform decisions, or support research objectives.

False Claims

Unfounded assertions or statements, often deceptive or fraudulent, made by individuals or organizations, usually for personal or financial gain.

United States

A country located in North America, consisting of 50 states and a federal district, known for its significant influence on global politics, economy, and culture.

Ethical Situation

A scenario involving moral principles or practices where decisions about right and wrong are addressed.