Principles of Macroeconomics 7th Edition

Published by South-Western College
ISBN 10: 1-28516-591-8
ISBN 13: 978-1-28516-591-2

Chapter 10 - Measuring a Nation's Income - Quick Check Multiple Choice - Page 214: 1

Answer

b. 15

Work Step by Step

Price of hot dog = \$2 Price of hamburger = \$4 Contribution of 30 hot dogs to GDP = \$2 * 30 = \$60 If the contribution of 30 hot dogs must be equal to that of hamburgers, then number of hamburgers = \$60 $\div$ (Price of hamburger) = \$60 $\div$ \$4 = 15
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