Suppose that in year 1 an economy produces 100 golf balls, Ask an Expert

Economics

Suppose that in Year 1 an economy produces 100 golf balls that sell for $3 each and 75 pizzas that sell for $8 each. The next year the economy produces 110 golf balls that sell for $3.25 each and 80 pizzas that sell for $9 each. The value of nominal GDP in Years 1 and 2 respectively is:

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91694527

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