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For the Following Question(s), Suppose an Economy Produces Only Pens

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For the following question(s) , suppose an economy produces only pens and pencils, and that the quantity and price data is given by this table:
For the following question(s) , suppose an economy produces only pens and pencils, and that the quantity and price data is given by this table:    -What is the real GDP in year 1 using base year 1? A)  $418. B)  $300. C)  $360. D)  $338. E)  $294.
-What is the real GDP in year 1 using base year 1?

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Definitions:

Scientific Notation

A way of expressing numbers that are too big or too small to be conveniently written in decimal form, using powers of ten.

Binomial

An algebraic expression of the sum or the difference of two terms.

Degree 3

A polynomial of degree 3 is a polynomial that has the highest exponent of its variable(s) as 3.

Sum

The result obtained by adding two or more numbers.

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