Question
The table below shows the amount of wine and cheese produced in this two good economy. Let the base year be 2015. YearPrice of WineQuantity
The table below shows the amount of wine and cheese produced in this two good economy. Let the base year be 2015.
YearPrice of WineQuantity of WinePrice of CheeseQuantity of Cheese2015$3510010402016$3510511402017$361051242
Real GDP in 2017 was
Group of answer choices
$3,900
$4,095
$4,075
$4,115
$4,285
Imagine an economy with production functionY=F(K) =K
and 400 units of capital. If the fraction of output invested in new capital is
=0.2 and the depreciation rate is
= 0.05, how muchoutput
will be producedin the steady state?
Group of answer choices
8
4
20
None of choices are correct answers.
64
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