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Consider the following simple economy that produces only three​ goods: 2009​ (Base Year) 2017 Product Quantity Price Quantity Price Denim pants 80 ​$40 100 ​$50 Wine 90 11 80 10 Textbooks 15 90 20 100
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Consider the following simple economy that produces only three​ goods: 2009​ (Base Year) 2017 Product Quantity Price Quantity Price Denim pants 80 ​$40 100 ​$50 Wine 90 11 80 10 Textbooks 15 90 20 100 Real GDP in 2017 equals $_____

User ResponsiblyUnranked
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5 votes

Answer:

The answer is $6680

Step-by-step explanation:

To calculate the Real GDP we use prices from the base year.

GDP = 100x40 + 80x11 + 20x90 = $6680

User Saurabh Rana
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