If GDP in Year 1is $100 and GDP in Year 2 Is $120, we know that society as a whofe Is better off in Year 2 than In Year 1. O True False

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Calculate GDP using the information in the table below: SBillions Durable goods 250 Nonresident investment 750 Government purchase of goods 1000 Exports 150 Government purchase of services 350 Residential investment 150 Services 600 Imports 250 Change in business inventories 40 Nondurable goods 650 Select one: O a. 2340 O b. 3690 О с. 3340 O d. 3760

dules 6 to 80 Suppose a small economy produces only smart TVs. In year one, 20,000 TVs are produced and sold at a price of $700 each. In year two, 14,800 TVs are produced and sold at a price of $725 each. As a result Multiple Choice О Mc Graw Hill real GDP stayed the same. real GDP increased. nominal GDP stayed the same. O real GDP decreased. 1 Q A P Z 73 zoom 02 W S a MacBook Pro % ^ 25 $4 #m 3 E 6 & N 7 R T Y U + W CC 8 9 - wall O יו O P 1 D F G H J K L X C tion 2 H command > B N M V- > H command op