The Base Year Is 2010

question 243

Multiple Choice

The base year is 2010.A country only produces MP3 players.The price of an MP3 player in 2008 was $50.The price of an MP3 player was $30 in 2010.The quantity of MP3 players produced in 2008 was 10,000 units and in 2010 was 20,000 units.Nominal GDP in 2010 equals

• A)$1,000,000.
• B)$500,000.
• C)$600,000.
• D)$200,000.
• E)an amount that cannot be determined without information about real GDP in 2010.

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Definitions:

Health Care Professionals

Trained and licensed individuals who provide preventive, curative, promotional, or rehabilitative health care services to individuals or communities.

Health Maintenance Organization

A type of health insurance plan that provides a wide range of healthcare services through a network of providers who agree to supply services to members.

Consumer-Driven Health Plan

A type of health insurance plan that places more control and decision-making in the hands of the consumer, typically involving high deductibles and health savings accounts.

Defined-Contribution Plan

A retirement plan where the amount of the employer's annual contribution is specified, and the future benefits fluctuate based on investment performance.