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Question: table 71 product quantity price sweatshirts 50 3500 dental examinations...

Question details

Table 7-1

Product

Quantity

Price

Sweatshirts

    50

$35.00

Dental examinations

    40

75.00

Coffee drinks

1,000

4.00

Coffee beans

2,000

  0.50

Refer to Table 7-1. Suppose that a simple economy produces only four goods and services: sweatshirts, dental examinations, coffee drinks, and coffee beans. Assume all of the coffee beans are used in the production of the coffee drinks. Using the information in the above table, nominal GDP for this simple economy equals

A) 3,090 units.

B) $7,250.

C) $8,750.

D) $9,750.

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