Assume an economy produces only hamburgers and hotdogs and the base year is 2005. Quantity producedPrices 2005200620052006Hamburgers2,0003,0002$3Hotdogs3,0004,0001$1.50Given the data in the table above, what is the value of real GDP in 2006?

The supply of money is determined by the Federal Reserve and is dependent on the demand for money

Indicate whether the statement is true or false

Which of the following is a reason behind income being considered a tax base? a. It is earned

b. It is subsidized. c. It is taxed. d. It is used to buy goods and services.