Refer to Table 8-17. What is nominal GDP in 2024? Table 8-1…
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Refer tо Tаble 8-17. Whаt is nоminаl GDP in 2024? Table 8-17 2021 2024 Prоduct Quantity Price Quantity Price Movies 20 $6.00 30 $7.00 Burgers 100 2.00 90 2.50 Bikes 3 1,000.00 6 1,100.00 A very simple economy produces three goods: movies, burgers, and bikes. The quantities produced and their corresponding prices for 2021 and 2024 are shown in the table above.