The country described in the table below produces and consumes only three goods: energy drinks, pizza, and t-shirts. The quantity produced and price of each good in 2016 and 2017 are provided.

-Refer to the above table. Assuming that 2017 is the base year, what is real GDP for 2016?
A) $7,800
B) $7,900
C) $8,100
D) $8,500

Question

The country described in the table below produces and consumes only three goods: energy drinks, pizza, and t-shirts. The quantity produced and price of each good in 2016 and 2017 are provided.
 
-Refer to the above table. Assuming that 2017 is the base year, what is real GDP for 2016?
A) $7,800 
B) $7,900 
C) $8,100 
D) $8,500

Quizplus · Accepted Answer

Real GDP is calculated using the prices from the base year (2017) and the quantities from the year in question (2016). Without the specific data from the table, we assume the correct choice based on typical calculation methods.

The Country Described in the Table Below Produces and Consumes