Assume an Economy That Makes Only One Product and That

question 110

Multiple Choice

Assume an economy that makes only one product and that year 3 is the base year.Output and price data for a five-year period are as follows.Answer the question on the basis of these data. $\begin{array}{c}\begin{array}{c}\\\underline{\text { Year }} \\1 \\2 \\3 \\4 \\5\end{array}\begin{array}{c}\text { Units of}\\\underline{\text { Output}}\\3 \\4 \\6 \\7 \\8\end{array}\begin{array}{c}\text { Price Per } \\\underline{\text { Unit } }\\ \$ 3 \\4 \\5 \\7 \\8\end{array}\end{array}$
Refer to the data.Real GDP for year 5 is:

• A) $160.
• B) $49.
• C) $40.
• D) $64.

---

Definitions:

Cultural Customs

The practices, traditions, and rituals that are characteristic of a particular social, ethnic, or age group.

Nonmaterial Levels

Concepts or aspects that do not have physical form but are significant to understanding society and social interactions, such as culture and values.

Present-Oriented

A mindset or attitude where an individual's focus and priorities are concentrated on the current moment and immediate experiences.

Hypertension

A chronic medical condition where the blood pressure in the arteries is persistently elevated, often leading to serious health issues.