Multiple Choice
Suppose an economy produces only eggs and ham.In 2009,100 dozen eggs are sold at $3 per dozen and 50 pounds of ham sold at $4 per pound.In 2010,the base year,eggs sold at $1.50 per dozen and ham sold at $5 per pound.For 2009,
A) nominal GDP is $400,real GDP is $500,and the GDP deflator is 80.
B) nominal GDP is $400,real GDP is $500,and the GDP deflator is 125.
C) nominal GDP is $500,real GDP is $400,and the GDP deflator is 80.
D) nominal GDP is $500,real GDP is $400,and the GDP deflator is 125.
Correct Answer:
Verified
Correct Answer:
Verified
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