Question

A south sea island produces only coconuts. In​ 2015, the price of a coconut is ​$1.00 and the quantity produced is 250 . In 2019 ​, the price of a coconut is ​$0.50 and the quantity produced is 200 . 2015 is the base year. What is real GDP in 2019 ​?

Answer 1

Answer:

the real GDP in 2019 is $200

Explanation:

The computation of the real GDP is shown below;

= Base year price × quantity produced in 2019

= $1 × 200

= $200

Hence, the real GDP in 2019 is $200

The above should be used to determine the real GDP in 2019 and the same should be relevant