Table 19-2 -Refer to Table 19-2. Suppose That a Simple Economy Produces

question 95

Multiple Choice

Table 19-2

-Refer to Table 19-2. Suppose that a simple economy produces only four goods and services: shoes, DVDs, tomatoes, and ketchup. Assume one half of the tomatoes are used in making the ketchup and the other half of the tomatoes are purchased by households. Using the information in the above table, nominal GDP for this simple economy equals

• A) $7,400.
• B) $6,400.
• C) $5,800.
• D) 2,440 units.

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Definitions:

Enjoyment

The state of taking pleasure or experiencing satisfaction from a certain activity, situation, or aspect of life.

Fulfillment

A feeling of satisfaction or happiness as a result of fully developing one's abilities or character.

Job Satisfaction

The level of contentment individuals feel about their work, which can involve factors like work environment, salary, and personal fulfillment from their job role.

Workers

Individuals engaged in an occupation or activity, especially those who are part of the labor force.