Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Harry's Pepperoni Pizza Parlor produced 10,000 large pepperoni pizzas last year that sold for $10 each. This year Harry's produced 12,000 large pepperoni pizzas (identical

Harry's Pepperoni Pizza Parlor produced 10,000 large pepperoni pizzas last year that sold for $10 each. This year Harry's produced 12,000 large pepperoni pizzas (identical to last year's pizzas) but sold them for $10 each. Based on this information, we can conclude that Harry's production of large pepperoni pizzas

Multiple Choice

  • increased nominal GDP by $20,000.
  • did not change nominal GDP.
  • decreased real GDP by $20,000.
  • did not change real GDP.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Economics

Authors: Robert Carbaugh

15th edition

1285854357, 978-1305177093, 1305177096, 978-1285854359

More Books

Students also viewed these Economics questions