To calculate the Real GDP for the automobile industry in 2020 using 2000 as the base year, we need to calculate the output for each type of vehicle (cars and trucks) in constant dollars (using the prices from the base year, 2000).
Step 1: Calculate the Real GDP for Cars in 2020
Quantity of Cars in 2020: 9,000
Base Year Price (2000): $10,000
Real GDP from Cars in 2020: \[ \text{Real GDP (Cars)} = \text{Quantity} \times \text{Base Year Price} = 9,000 \times 10,000 = 90,000,000 \text{ dollars} \]
Step 2: Calculate the Real GDP for Trucks in 2020
Quantity of Trucks in 2020: 8,000
Base Year Price (2000): $12,000
Real GDP from Trucks in 2020: \[ \text{Real GDP (Trucks)} = \text{Quantity} \times \text{Base Year Price} = 8,000 \times 12,000 = 96,000,000 \text{ dollars} \]
Step 3: Calculate the Total Real GDP for 2020
Now, we add the Real GDP from Cars and Trucks: \[ \text{Total Real GDP} = \text{Real GDP (Cars)} + \text{Real GDP (Trucks)} = 90,000,000 + 96,000,000 = 186,000,000 \text{ dollars} \]
Conclusion
The Real GDP of the automobile industry in the given economy in 2020, adjusted for changes in price using 2000 as the base year, is 186 million dollars.
Therefore, the correct response is: 186 million dollars.
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