The Nominal Gross Domestic Product (GDP)for a Country Was $1,000

Multiple Choice

The nominal gross domestic product (GDP) for a country was $1,000 in 2003 and $1,500 in 2004.The GDP price index was 100 in 2003 and 150 in 2004.Between 2003 and 2004,real GDP _____.

A) increased by $500
B) increased by $333
C) increased by $50
D) remained the same
E) decreased by $50