Below is a summary of the goods produced by a small economy in 2017: Product Quantity Price per unit Rice $3 13,500 Flour 17,000 Olive oil 5 2,500 Sugar 4 19,000 Salt 2 16,500 What is the GDP for this economy in 2017? Select one: O a. $262,000 O b. $175,000 OC $196,000 O d. $233,800 2.

Below is a summary of the goods produced by a small economy in 2017: Product Quantity Price per unit Rice $3 13,500 Flour 17,000 Olive oil 5 2,500 Sugar 4 19,000 Salt 2 16,500 What is the GDP for this economy in 2017? Select one: O a. $262,000 O b. $175,000 OC $196,000 O d. $233,800 2.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Below is a summary of the goods produced by a small economy in 2017:
Product
Quantity Price per unit
Rice
$3
13,500
Flour
17,000
Olive oil
5
2,500
Sugar
4
19,000
Salt
2
16,500
What is the GDP for this economy in 2017?
Select one:
O a. $262,000
O b. $175,000
O c. $196,000
O d. $233,800

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