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The following table has production and prices for laurasia for three years: product hats 2015 output 220 600 100 2015 2016 prices output $ 15.00 240 $ 0.50 650 550.0080 2016 2017 prices output $ 16.00 250 $ 1.00 600 $60.0090 2017 prices $ 12.00 51.50 $ 55.00 bananas drills calculate nominal gdp for each of the following years: instructions: enter your answers as whole dollar amounts.
a.) 2015 nominal gdp = $ 920
b.) 2016 nominal gdp = $
c.) 2017 nominal gdp:$

Respuesta :

The value of 2015 nominal GDP = $8600 ,2016 nominal GDP = $9290

2017 nominal GDP = $8850.

What is GDP ?

GDP known as Gross Domestic Product is the measure of the market value of the goods and services produced in the financial year.

The GDP can be calculated by summing the total products obtained with the price of the unit product.

It is given in the question , Bananas , Hats and Drills produced, The GDP of the respective year is

2015 nominal GDP = $8600

2016 nominal GDP = $9290

2017 nominal GDP = $8850

To know more about GDP

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