Price and Output data over a five year period for an economy that produces only one good. Assume that year 2 is the base year. Year Units of Output Price per unit 1 8 $2 2 10 3 3 15 4 4 18 5 5 20 6 Refer to the above data. In year 4, nominal GDP would be:

If jobs have been undercosted due to underallocation of manufacturing overhead, then cost of goods sold (cogs) is too low and which of the following corrections must be made? a. decrease cogs for double the amount of the underallocation b. increase cogs for double the amount of the underallocation c. decrease cogs for the amount of the underallocation d. increase cogs for the amount of the underallocation