The Next Questions Refer to the Following Hypothetical Economy

question 26

Multiple Choice

The next questions refer to the following hypothetical economy
In one year, an economy produces 100 units of capital goods, which sell for $30 each, and 200 units of consumer goods, which sell for $10 each. In the second year, 150 units of capital are produced, and sold for $20 each, while 220 units of consumer goods are produced and sold for $20 each. In the third year, 160 units of capital are sold for $30 each, and 200 units of consumer goods are sold for $20 each.
-Nominal GDP in the three years is

• A) 300 in year one, 370 in year two, and 360 in year three
• B) 2500 in year one, 3700 in year two, and 4400 in year three
• C) 6000 in year one, 7500 in year two, and 9000 in year three
• D)5000 in year one, 7400 i n year two, and 8800 in year three
• E) 40 in year one, 40 in year two, and 50 in year three

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Definitions:

Scientific Process

A systematic methodology involving observation, experimentation, and analysis to acquire knowledge and understand phenomena.

Dissonance Theory

A concept that describes the discomfort felt when a person holds two or more conflicting beliefs, values, or attitudes, prompting a motivation to reduce the dissonance.

Self-Concept

The collection of beliefs and perceptions individuals have about themselves, encompassing aspects like self-image and self-esteem.

Theory of Planned Behavior

A psychological theory that predicts an individual's intention to engage in a behavior at a specific time and place, considering attitudes, subjective norms, and perceived behavioral control.