For the following questions, suppose an economy produces only pens and pencils, and that the quantity and price data is given by this table

pens pencils
Year 1 quantity 15 10
Year 1 price $12 $12
Year 2 quantity 17 12
Year 2 price $14 $15

What is the real GDP in year 2 using base year 1?
A) $418
B) $300.
C) $360.
D) $338.

D

Economics

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The origins of modern monetarism lie in the work of the

A) Classical economists. B) Keynesians. C) Malthusians. D) Mercantilists.

Economics

If one US dollar costs 0.8 Euros, then 1 Euro must cost how many US dollars?

a. 0.5 b. 0.8 c. 1.0 d. 1.25 e. 1.5

Economics