Use the Following Information to Answer the Next Several Questions

question 91

Multiple Choice

Use the following information to answer the next several questions:
Scenario 1: Imagine that an economy produces two goods, flashlights and fishing lures. In 2015, the economy produced 70 flashlights and 40 fishing lures, and the prices of flashlights and fishing lures were $5 and $12, respectively. In 2016, the economy produced 85 flashlights and 50 fishing lures, and the prices of flashlights and fishing lures were $7 and $15, respectively.
-Based on the information in Scenario 1, nominal GDP in 2015 in this economy was

• A) $830.
• B) $1,025.
• C) $1,090.
• D) $1,345.

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Definitions:

1200s

A century during the Middle Ages, spanning the years 1200 to 1299, marked by significant historical events and developments in various regions.

Protocol

An established set of rules or procedures to be followed in a specific situation or a formal agreement between countries.

Global Warming

The observed rise in Earth's average surface temperature due to human-induced emissions of greenhouse gases.

Carbon Dioxide Levels

The concentration of CO2 gas in the Earth's atmosphere, influential in the discussion of climate change.