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  3. Principles of Economics Study Set 4
  4. Quiz 15: Spending, Income, and GDP

Bob's Barber Shop Cut 3,000 Heads of Hair in 2009

Question 131
Multiple Choice

Bob's Barber Shop cut 3,000 heads of hair in 2009 and 3,100 in 2010.The price of a haircut was $7 in 2009 and $8 in 2010.If 2009 is the base year,what was Bob's contribution to nominal GDP in the year 2009? A)$21,000 B)$21,700 C)$24,000 D)$24,800

Related questions
Q 132
Bob's Barber Shop cut 3,000 heads of hair in 2009 and 3,100 in 2010.The price of a haircut was $7 in 2009 and $8 in 2010.If 2009 is the base year,what was Bob's contribution to real GDP in the year 2010? A)$21,000 B)$21,700 C)$24,000 D)$24,800
Q 133
Bob's Barber Shop cut 3,000 heads of hair in 2009 and 3,100 in 2010.The price of a haircut was $7 in 2009 and $8 in 2010.If 2009 is the base year,what was Bob's contribution to nominal GDP in the year 2010? A)$21,000 B)$21,700 C)$24,000 D)$24,800
Q 134
Peg's Manicure Manor did 4,000 sets of nails in 2010 and 4,500 sets of nails in 2011.The price of a set of nails was $20 in 2010 and $22 in 2011.If 2010 is the base year,Peg's contribution to real GDP in 2010 was ______ and in 2011 was _____. A)$80,000;$88,000 B)$80,000;$90,000 C)$80,000;$99,000 D)$88,000;$90,000
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