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Suppose there is a simple one good economy that only produces spinning rims. In 2015, the economy was able to produce 1 million sets of
Suppose there is a simple one good economy that only produces spinning rims. In 2015, the economy was able to produce 1 million sets of spinning rims at an amazing price of $500 per set. In 2016, the economy was able to produce 1 million sets of spinning rims at a price of $1,000 per set. By what amount did real GDP increase between 2015 and 2016 in the simple one good economy? Group of answer choices Not enough information provided to answer the question 1 million 0 500 million
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