Country A produces two goods, elephants and saddles. In the year 2006, the 10 units of elephants produced sold for...
Country A produces two goods, elephants and saddles. In the year 2006, the 10 units of elephants produced sold for $2,000 per unit and the 25 units of saddles produced sold for $200 per unit. In 2007, the 20 units of elephants produced sold for $3,000 per unit, and the 50 units of saddles produced sold for $300 per unit. Real GDP for 2007, assuming that 2006 is the base year, is ______.
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xxxxxxx x xxxxxxxx xxx xxxxxx elephants xxx xxxxxxxx xx xxx year xxxxx the xx units xx xxxxxxxxx produced xxxx for $2,000 xxx unit xxx xxx 25 xxxxx of saddles xxxxxxxx sold xxx $200 per xxxxx In xxxxx the xx xxxxx of elephants produced xxxx xxx $3,000 per xxxxx and the 50 xxxxx xx xxxxxxx produced sold xxx $300 xxx unit. xxxx xxx xxx 2007, assuming xxxx 2006 xx the base xxxxx xx ______.
Real GDP xx xxx evaluated at xxxxxmarket xxxxxx xx some base xxxxx For example, xx 2006 were xxxxxx as the xxxx year, xxxx xxxx xxx xxx xxxx xx calculated by taking the quantities of xxx xxxxx and services xxxxxxxxx in 2007 and multiplying xxxx by their xxxx prices.
20 xxxxx of xxxxxxxxx x xxxx xxx unit=40,000
50 xxxxx of saddles x xxx xxx unit=1000
xxxx xxx x 41,000
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