Table 12-11 Consider the Following Data for Tyrovia, a Country That Produces

question 9

Multiple Choice

Table 12-11
$\begin{array}{|c|c|c|c|c|}\hline \text { Year } & \begin{array}{c}\text { Guns } \\\text { Produced }\end{array} & \text { Price of Guns } & \begin{array}{c}\text { Butter } \\\text { Produced }\end{array} & \begin{array}{c}\text { Price of } \\\text { Butter }\end{array} \\\hline 2009 & 80 & \$ 5 & 40 & \$ 4 \\\hline 2018 & 90 & 6 & 60 & 10 \\\hline\end{array}$ Consider the following data for Tyrovia, a country that produces only two products: guns and butter.
-Refer to Table 12-11.Real GDP for Tyrovia for 2018 using 2009 as the base year equals

• A) $1,140.
• B) $880.
• C) $690.
• D) $560.

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Definitions:

Bonds Payable

A long-term liability account that records the amounts owed by an entity to bondholders, to be repaid at a future date.

Installment Note

A debt that requires the borrower to make equal periodic payments to the lender for the term of the note.

Periodic Payments

Regular, scheduled payments made over a period of time, such as monthly rent or quarterly insurance premiums.

Borrower

An individual or entity that takes funds from a lender under the agreement to return it with interest or equity.