107 828
Assignments Done
100%
Successfully Done
In April 2025
In April 2025
Your physics assignments can be a real challenge, and the due date can be really close — feel free to use our assistance and get the desired result.
Physics
Be sure that math assignments completed by our experts will be error-free and done according to your instructions specified in the submitted order form.
Math
Our experts will gladly share their knowledge and help you with programming projects. Keep up with the world’s newest programming trends.
Programming
Answer to Question #95098 in Macroeconomics for Chris Rodrigues
Question #95098
Suppose Ghana produces cocoa and timber, and the following hypothetical data is provided for 2016 and 2017.
2016 2017
Good Quantity Price Quantity Price
Cocoa 1000 2 1100 3
Timber 500 10 525 8
Nominal GDP in 2016 is ...
[1] 2000
[2] 3625
[3] 7000
[4] 5000
2016 2017
Good Quantity Price Quantity Price
Cocoa 1000 2 1100 3
Timber 500 10 525 8
Nominal GDP in 2016 is ...
[1] 2000
[2] 3625
[3] 7000
[4] 5000
Expert's answer
Nominal GDP is GDP evaluated at current market prices.
Nominal GDP 2016 = 1000*2+500*10 = 7000
Correct answer is [3] 7000
Learn more about our help with Assignments: Macroeconomics
Comments
Leave a comment