Table 8-18 a Very Simple Economy Produces Three Goods: Cameras,legal

question 101

Multiple Choice

Table 8-18
A very simple economy produces three goods: cameras,legal services,and books.The quantities produced and their corresponding prices for 2008 and 2013 are shown in the table above.
-Refer to Table 8-18.What is nominal GDP in 2013 when 2008 is the base year?

• A)$28,885
• B)$11,790
• C)$11,200
• D)$10,275

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Definitions:

Initial Statement

The opening remarks or expressions made at the beginning of a conversation, interview, or examination.

Sobbing

A type of crying characterized by loud gasps of air, often indicative of intense emotional distress.

Situational Crisis

A temporary state of disturbance and disorganization caused by a stressful event or situation.

Maturational Crisis

A crisis resulting from experiencing a new stage of life or a new role that requires significant adjustment in one’s self-concept or behavior.