Consider an Economy That Produces Only DVDs and DVD Players

question 214

Multiple Choice

Consider an economy that produces only DVDs and DVD players.Last year,10 DVDs were sold at $20 each and 5 DVD players were sold at $100 each,whereas this year 15 DVDs were sold at $10 each and 10 DVD players were sold at $50 each.Real GDP this year using last year as the base year is:

• A) $100.
• B) $700.
• C) $1 300.
• D) $300

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Definitions:

Octagon

A geometric figure with eight sides and eight angles.

Gazebo

A freestanding open structure, often found in gardens and parks, used for relaxation or entertainment.

Security Deposit

The money given to the landlord from the tenant as protection in the event that the tenant causes damage to the rented property; refunded when the tenant moves out if there is no damage, and can range from 1 to 4 month’s rent.

Landlord

The owner of property (such as land, houses, or apartments) that is leased or rented to others.