D) 38,500 billion E) some amount that cannot be calculated without intormation o
ID: 1102595 • Letter: D
Question
D) 38,500 billion E) some amount that cannot be calculated without intormation on the amount of govemment expendures 5) The base year is 2010. A MP3 players. The price of an MP3 player in 2008 was $50. The wasson2010. The quantity of MP3 players produced n 20ce units. Nominal Gop in 2010 equas 10.000 units and was 20,000 A) $1.000,000 B) 3500,000 C) $600,000 D) $200,000 E an amoune that cannot be determined without information about real GDP in 2010. 6) The base year is 2008. A country only produces MP3 players. The price of an MP3 player in 2008 was $100. The price of an MP3 playe was in20quantty of MP3 players produced in 2008 wis 10.000 units and in was 10.500 units. Real GDP in 2009 equais A) $900,000 B) $945,000 C) $1,000,000 D) $1,050,000 E) an amount that cannot be determined without information about nominal GDP in 2008. Data for 2009 Data for 2010 Item Bread Soda 50 50 6.00 the production and prices for a small nation that produces only bread and soda. The base year is 2009. What is nominal GDP in 2009? A) $410 B) $450 C) $900 D) $550 E) $460 8) The table above gives the production and prices for a small nation that produces only bread and soda. The base year is 2010. What is real GDP in 2010 A) $530 B) $1080 C) $510 D) $210 E) $300 21PageExplanation / Answer
5)
nominal GDP in 2010=price of 2010*quantity of 2010
=30*20000
=600000 is answer
6)
real GDP in 2009=price of base year*quantity of 2009
=100*10500
=1050000 is answer
7)
nominal GDP in 2009=4*50+5*50=450 is answer
8)
real GDP in 2010=3*70+6*50=510 is answer
the above are the answers
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