The Base Year Is 2012

question 178

Multiple Choice

The base year is 2012.A country only produces Blu-ray players.The price of a Blu-ray player in 2012 was $100.The price of a Blu-ray player was $90 in 2013.The quantity of Blu-ray players produced in 2012 was 10,000 units and in 2013 was 10,500 units.Real GDP in 2012 equals

• A)$900,000.
• B)$945,000.
• C)$1,000,000.
• D)$1,050,000.
• E)an amount that cannot be determined without information about real GDP in 2007.

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