When economists talk about supply, they are referring to a relationship between price received for each unit sold and the ______
1 answer:
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Answer:
The GDP for year 1, year 2, and year 3 is $12, $20 and, $30 respectively.
Explanation:
The nominal GDP is the value of goods and services produced in an economy in a year.
Here, the economy produces only chocolate bars. So we can find nominal GDP by calculating the value of chocolate bars produced in each year.
Nominal GDP for year 1
=
=
=$12
Nominal GDP for year 2
=
=
=$20
Nominal GDP for year 3
=
=
=$30