Table 19-1 -Refer to Table 19-1. Suppose That a Simple Economy Produces

question 199

Multiple Choice

Table 19-1

-Refer to Table 19-1. Suppose that a simple economy produces only four goods and services: sweatshirts, dental examinations, coffee drinks, and coffee beans. Assume all of the coffee beans are used in the production of the coffee drinks. Using the information in the above table, nominal GDP for this simple economy equals

• A) 3,090 units.
• B) $7,250.
• C) $8,750.
• D) $9,750.

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Definitions:

Hetch Hetchy

A valley in Yosemite National Park, which was controversially dammed in the early 20th century to provide water to San Francisco.

Conservationists

Individuals or groups who advocate for the preservation and protection of the environment and wildlife.

Sierra Club

An environmental organization established in the United States, dedicated to the protection and preservation of the natural environment through advocacy and conservation efforts.

Hetch Hetchy

A valley in Yosemite National Park, controversially dammed in the early 20th century to provide water to San Francisco.