Questions
EC301 Principles of Macroeconomics
Single choice
We are studying an economy that produces and consumes two goods: hot dogs and hamburgers. The table below shows data for years 2010 and 2020. [table] | Year 2010 | Year 2020 Price of a hot dog | $2 | $4 Price of a hamburger | $3 | $4 Quantity of hot dogs | 200 | 250 Quantity of hamburgers | 200 | 500 [/table] Calculate nominal GDP 2020
Options
A.a. 2500
B.b. 2000
C.c. 3500
D.d. 3000
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We are given data for two goods, hot dogs and hamburgers, in 2020: price of a hot dog is $4, price of a hamburger is $4, quantity of hot dogs is 250, and quanti......Login to view full explanationLog in for full answers
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We are studying an economy that produces and consumes two goods: hot dogs and hamburgers. The table below shows data for years 2010 and 2020. [table] | Year 2010 | Year 2020 Price of a hot dog | $2 | $4 Price of a hamburger | $3 | $4 Quantity of hot dogs | 200 | 250 Quantity of hamburgers | 200 | 500 [/table] Calculate nominal GDP 2020
We are studying an economy that produces and consumes two goods: hot dogs and hamburgers. The table below shows data for years 2010 and 2020. [table] | Year 2010 | Year 2020 Price of a hot dog | $2 | $4 Price of a hamburger | $3 | $4 Quantity of hot dogs | 200 | 250 Quantity of hamburgers | 200 | 500 [/table] Calculate nominal GDP 2020
We are studying an economy that produces and consumes two goods: hot dogs and hamburgers. The table below shows data for years 2010 and 2020. [table] | Year 2010 | Year 2020 Price of a hot dog | $2 | $4 Price of a hamburger | $3 | $4 Quantity of hot dogs | 200 | 250 Quantity of hamburgers | 200 | 500 [/table] Calculate nominal GDP 2010
MC Qu. 114 Nominal GDP is... Nominal GDP is
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