Question: 17
(Choose 1 answer)
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.
