Table 12-6 -Refer to Table 12-6.Suppose That a Simple Economy Produces Only

question 111

Essay

Table 12-6

-Refer to Table 12-6.Suppose that a simple economy produces only four goods and services: iPods,t-shirts,bottled water,and oranges.Calculate nominal GDP for this simple economy.

---

Definitions:

Essentialist Idea

The belief that certain phenomena are naturally and fundamentally determined by intrinsic properties rather than constructed or variable.

Gender

The physical, behavioral, and personality traits that a group considers normal for its male and female members.

Social Construction

A concept or perception that has been created and accepted by the members of a society through cultural or social practice.

Constructionist Perspective

A theoretical viewpoint that suggests knowledge and reality are not inherently natural but are constructed through social processes and interactions.