Multiple Choice
In the country of Mainia,only cranberries and maple syrup are produced.In 2006,50 units of cranberries are sold at $20 per unit,and 100 units of maple syrup are sold at $10 per unit.The price of cranberries was $10 per unit and the price of maple syrup was $15 per unit in 2005,which is the base year.For 2006,
A) nominal GDP is $2,000, real GDP is $2,000, and the GDP deflator is 100.
B) nominal GDP is $2,000, real GDP is $2,500, and the GDP deflator is 125.
C) nominal GDP is $2,500, real GDP is $2,000, and the GDP deflator is 83.3.
D) None of the above is correct.
Correct Answer:

Verified
Correct Answer:
Verified
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