Suppose GDP Consists of Wheat and Rice

Multiple Choice

Suppose GDP consists of wheat and rice.In 2005,20 bushels of wheat are sold at $4 per bushel,and 10 bushels of rice are sold at $2 per bushel.In 2004,the price of wheat was $2 per bushel and the price of rice was $1 per bushel.Using 2004 as the base year,it follows that,for 2005,

A) nominal GDP is $100, real GDP is $50, and the GDP deflator is 50.
B) nominal GDP is $50, real GDP is $100, and the GDP deflator is 200.
C) nominal GDP is $100, real GDP is $50, and the GDP deflator is 200.
D) nominal GDP is $40, real GDP is $100, and the GDP deflator is 50.