Table 12-6 -Refer to Table 12-6

question 162

Multiple Choice

Table 12-6
$\begin{array}{|l|r|c|}\hline {\text { Product }} & \text { Quantity }& \text { Price per Unit } \\\hline \text { Coke } & 10,000 &\$2\\\hline \text { iPhones } & 2,000&150 \\\hline \text { Backpack.s } & 4,000 &25\\\hline \text { Hershey bars } & 8,000&1\\\hline\end{array}$
-Refer to Table 12-6.Consider the table of production and price statistics for a small economy in 2018.If the economy only produces the four goods listed below,what is GDP for 2018?

• A) $428,000
• B) $267,000
• C) $24,000
• D) $1,424

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Definitions:

Concept

A general idea or understanding that represents a class or category of objects, events, or phenomena.

Prompt Feedback

Swift and immediate responses or information given back to an individual regarding their performance, often used as a guideline for improvement.

Overconfidence

A cognitive bias referring to an individual's inflated belief in their own abilities or outcomes.

Linguistic Determinism

Whorf’s hypothesis that language determines the way we think.