Multiple Choice
The country of Fishland had a GDP of 1,000 doubloons (the monetary unit) in 2003 and 1,500 doubloons in 2004.The GDP price index was 100 in 2003 and 150 in 2004.Between 2003 and 2004 real GDP in Fishland
A) increased by 500 doubloons
B) increased by 333 doubloons
C) increased by 50 doubloons
D) remained the same
E) decreased by 50 doubloons
Correct Answer:
Verified
Correct Answer:
Verified
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