Multiple Choice
Assume that apples cost $0.50 in 2002 and $1 in 2009, whereas oranges cost $1 in 2002 and $1.50 in 2009. If 4 apples were produced in 2002 and 5 in 2009, whereas 3 oranges were produced in 2002 and 4 in 2009, then real GDP (in 2002 prices) in 2009 was:
A) $5.
B) $6.50.
C) $9.50.
D) $11.
Correct Answer:
Verified
Correct Answer:
Verified
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