Assume an Economy Is Producing Only One Product and That

question 94

Multiple Choice

Assume an economy is producing only one product and that year 1 is the base year.Output and price data for a five-year period are as follows:

-Refer to the information above to answer this question.What is the nominal GDP in year 2?

• A)$180.
• B)$2,250.
• C)$2,000.
• D)$2,500.

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Definitions:

SWOT Analysis

A strategic planning technique used to help an individual or organization identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.

Strategic Management

A process that involves formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives.

Strategic Management Process

A comprehensive approach to planning and guiding an organization's strategy over the long term.

Compensation

The total of all rewards provided to employees in return for their services, including salary, benefits, bonuses, and other forms of payment.