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21 Oct 2020
Merryland is an economy that produces and consumes only marshmallows and chocolates. In the following table are data for two different years. Using the year 2019 as base year, what is the real GDP for the year 2019?
2019
2020
Good
Quantity
Price
Quantity
Price
Marshmallows
10,000
$50,000
12,000
$60,000
Chocolates
50,000
$100,000
400,000
$230,000
-
$3,500,000,000
-
$4,500,000,000
-
$5,500,000,000
-
-
$6,500,000,000
Merryland is an economy that produces and consumes only marshmallows and chocolates. In the following table are data for two different years. Using the year 2019 as base year, what is the real GDP for the year 2019?
|
2019 |
2020 |
|||
|
Good |
Quantity |
Price |
Quantity |
Price |
|
Marshmallows |
10,000 |
$50,000 |
12,000 |
$60,000 |
|
Chocolates |
50,000 |
$100,000 |
400,000 |
$230,000 |
-
$3,500,000,000
-
$4,500,000,000
-
$5,500,000,000
-
$6,500,000,000
Kristelle BalandoLv10
21 Oct 2020
