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cerisepig843Lv1
9 Feb 2020
Consider an economy that produces only chocolate bars in year 1, the quantity produced is 3 bars and the price is 4$. In year 2, the quantity produced is 4 bars and the price is 5$. In year 3, the quantity produced is 5 bars and the price is 6$. Year 1 is the base year. What is the nominal GDP for each of these three years?
Consider an economy that produces only chocolate bars in year 1, the quantity produced is 3 bars and the price is 4$. In year 2, the quantity produced is 4 bars and the price is 5$. In year 3, the quantity produced is 5 bars and the price is 6$. Year 1 is the base year. What is the nominal GDP for each of these three years?
Beverley SmithLv2
10 Feb 2020