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