Use the Following to Answer Questions

question 79

Multiple Choice

Use the following to answer questions:
Scenario: Real GDP
Suppose that in year 1 an economy produces 100 golf balls that sell for $3 each and 75 pizzas that sell for $8 each. The next year the economy produces 110 golf balls that sell for $3.25 each and 80 pizzas that sell for $9 each.
-(Scenario: Real GDP) Look at the scenario Real GDP. The value of nominal GDP in years 1 and 2 respectively is:

• A)$900 and $1,077.50.
• B)$900 and $990.
• C)$180,000 and $257,400.
• D)$1,000 and $1,005.

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Definitions:

Economic Profit

The variance identified between overall proceeds and all-inclusive financial outgoings, inclusive of both explicit and veiled costs.

Investment Return

The gain or loss on an investment over a specified time period, expressed as a percentage of the investment's initial cost.

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A company that provides tools and services focused on employee engagement and organizational health assessment.