Multiple Choice
Assume that apples cost $0.50 in 2012 and $1 in 2019, whereas oranges cost $1 in 2012 and $1.50 in 2019. If 4 apples were produced in 2012 and 5 in 2019, whereas 3 oranges were produced in 2012 and 4 in 2019, then real GDP (in 2012 prices) in 2019 was:
A) $5.
B) $6.50.
C) $9.50.
D) $11.
Correct Answer:
Verified
Correct Answer:
Verified
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