In the country of mainia gdp consists of cranberries and, Ask an Expert

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In the country of Mainia, GDP consists of cranberries and maple syrup. In 2000, 50 units of cranberries are sold at $10 per unit, and 100 units of maple syrup are sold at $5 per unit. If the price of cranberries was $5 per unit and the price of maple syrup was $7.50 per unit in 1999, the base year,

A. nominal 2000 GDP is $1000, real 2000 GDP is $1000, and the GDP deflator is 100.

B. nominal 2000 GDP is $1000, real 2000 GDP is $1250, and the GDP deflator is 83.3.

C. nominal 2000 GDP is $1000, real 2000 GDP is $1000, and the GDP deflator is 1.

D. nominal 2000 GDP is $1000, real 2000 GDP is $833, and the GDP deflator is 125.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91385930

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