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QUESTION:

The following table contains information about an economy that produces only soda and pizza. The base year is 2020. Use this information to answer the question.

Year

Price of Soda

Quantity of Soda

Price of Pizza

Quantity of Pizza

2020

$3

100

$10

50

2021

  3

120

  12

70

2022

  4

120

  14

70

What is the percentage increase in real GDP from 2021 to 2022?

a. 0 percent

b. 7 percent

c. 22 percent

d. 27 percent

e. 32 percent

ANSWER:

c. 22 percent


Posted by Cleveland on September 4, 2024
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