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the situation when a country's exports of goods and services are greater than its imports
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- Refer to the table. These are all of the goods produced within a country for year 1.Wood is not sold to consumers. Instead, wood is used to produce furniture. Furniture and backpacks are sold to consumers. There are no services produced. What is nominal GDP for this country in year 1?Year 1 Good Units of Output Price per Unit Wood 20 $8 Furniture 5 $10 Backpacks 10 $15A) $160 B) $200C) $360D) There is not enough information to answer this question.
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