Assume an economy is producing only one product. Year 2 is the base year. Output and price data for a five-year period are given.YearUnits of OutputPrice Per Unit14$425537849951010Refer to the above data. Nominal GDP for year 3 is:

A. $16.
B. $25.
C.  $56.
D. $81.

ANSWER:

C.  $56.