Table 12-18 A Very Simple Economy Produces Three Goods: Cameras, Legal Services

question 127

Multiple Choice

Table 12-18
$\begin{array}{|c|c|c|c|c|}\hline & 2013 & & 2018 & \\\hline \text { Product } & \text { Quantity } & \text { Price } & \text { Quantity } & \text { Price } \\\hline \text { Camera } & 100 & \$ 10 & 120 & \$ 12 \\\hline \text { Legal services } & 50 & 15 & 45 & 20 \\\hline \text { Books } & 200 & 40 & 210 & 45 \\\hline\end{array}$ A very simple economy produces three goods: cameras, legal services, and books. The quantities produced and their corresponding prices for 2013 and 2018 are shown in the table above.
-Refer to Table 12-18.What is real GDP in 2018,using 2013 as the base year?

• A) $28,885
• B) $11,790
• C) $11,200
• D) $10,275

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Definitions:

Reciprocal Inhibition

Wolpe’s term for the idea that only one emotional state can be experienced at a time.

Sensory Disinhibition

The reduction of inhibitory signals in the nervous system, leading to an increase in sensory experiences.

Sensory Preconditioning

The initial pairing of two stimuli, which will enable one of the stimuli (CS2) to elicit the conditioned response (CR) without being paired with an unconditioned stimulus (UCS) if the other stimulus (CS1) is paired with UCS.

Extinction

The process by which a conditioned response diminishes and eventually disappears, as a result of the conditioned stimulus being repeatedly presented without the unconditioned stimulus.