Bananaland produces only bananas and sunscreen and the quantities and prices for 2012 and 2013 are given in the table above. The base year is 2012. Real GDP in 2012 is equal to
A) $800.
B) $640.
C) $625.
D) $500.
E) $200.
D
Economics
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Costs that are independent of the firm's level of output are called
a. fixed costs. b. marginal costs. c. opportunity costs. d. sunk costs.
Economics
Explain how the aggregate demand and aggregate supply model can be made more dynamic
What will be an ideal response?
Economics
In leading the opposition to the adoption of NAFTA, H. Ross Perot argued that NAFTA would lead to
A) a loss of U.S. competitiveness with Canada. B) a loss of U.S. manufacturing jobs to Mexico. C) a loss of U.S. willingness to negotiate the Uruguay Round. D) All of the above.
Economics
The firm in the above figure breaks even when quantity is
A) A. B) B. C) C. D) D.
Economics