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xInvalid Session cmilla highered.com/launchpad krugman vells acro4 7330849#Aaunchpad itemvmodule pda krugmanwellsmacro4_1 1/kn LP w canvas USC Marshall S -/10 pts 11:59 PM E -Chapter 7 Back to Study Plan Score: 93/450[ Questio Dinotopia produces tractors and pizzas. This information is shown in the table. Based on the table, real GDP in 2014 in Dinotopia, using 2013 as the base year, equals: Year 201 Year 2014 Year 2015 Quantity of Tractors Price of Tractors Quantity of Pizzas Price of Pizzas 10,000 100 S10 $12,000 80 $20 15,000 100 $20 o $50,000. o $50,800. $60,000 O $61,600. Need help on this question? Read the ebook page on this topic | Get a hint Show answer no points) Ino penalty fewer points)

Solution

The correct answer is: b)

Reason: RealGDP in 2014

= (5*10000) + ( 80*10)= 50,800

Since, 2013 is the base year, we have used 2013 price level to calculate real GDP of 2014.

Thanks!