The above table shows data from the GDP accounts of Hypothetica. Hypothetica's GDP is ________ billion

To calculate gross domestic product, you use the sum of the market values of all final goods and services produced in a given year. This means you

A) count the total number of final goods and services produced in the marketplace in that particular year and then add the numbers together. B) count the total number of final goods and services produced in the marketplace from every year including that given year and then add the numbers together. C) value the final goods and services at their market prices for that particular year, multiply them by the quantity produced that year, and then add the numbers together. D) value the final goods and services at their market prices for that particular year, multiply them by the quantity produced from every year including that given year, and then add the numbers together.

When the price of raisins falls, the quantity of raisins demanded rises. Explain this change in terms of income and substitution effects

What will be an ideal response?