xC Search Textbook Sokutior Dand%20oranges%20The%20base%20year%20s%202009/study?

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xC Search Textbook Sokutior Dand%20oranges%20The%20base%20year%20s%202009/study?trackid-Occaea 32 8strackid-62o51 37a event" entersutn Take a Test -Sultan Alameri-Google Chrome Secure | https//www.mathdcom/Student/Playeriestapeetidninonsamtennys Economics Fall 17 Awijeweera Quiz: Chapter 21 CYU Assignment This Question: 1 pt 1ct 10 (0 complete) This Quiz: 10 pts po An economy produces only apples and oranges. The base year is 2009 Nominal GDP in 2009 is S Noniral GDP in 20 10 is . 009 100 90 2010 150 200 Apples Oranges 2010 $1.50 $200 Prices 009 $0.50 $1.00 Enter your answer in each of the answer boxes A: Real gross domestic product (GDP) in the yea.. See solution Measurina U.S. GDP Use the following data to work Problem. An economy produces only poles and oranges. The base

Explanation / Answer

NOminal GDP in 2009 is $140

Nominal GDP = (100 *.50 ) + (90*1) = 50+90

= 140

Nominal GDP in 2010 is $700.

NOminal GDP = (200 *1.50 ) +( 200 *2 )

= 300 + 400 = 700

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