MCQOPTIONS
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| 1. |
Assume that there are two goods, A and B. In 1996, Americans produced 10 units of A at a price of $10 and 20 units of B at a price of $20. In 2002, Americans produced 20 units of A at a price of $20 and 30 units of B at a price of $30. The Nominal GDP for 2002 is: |
| A. | $100 |
| B. | $400 |
| C. | $500 |
| D. | $900 |
| Answer» B. $400 | |