Suppose That the Country of Samiam Produces Only Eggs and Ham.In

question 174

Multiple Choice

Suppose that the country of Samiam produces only eggs and ham.In 2005 it produced 100 dozen eggs at $3 per dozen and 50 pounds of ham at $4 per pound.In 2004,the base year,eggs sold for $1.50 per dozen and ham sold for $5 per pound.For 2005,

• A)nominal GDP is $500, real GDP is $400, and the GDP deflator is 80.
• B)nominal GDP is $500, real GDP is $400, and the GDP deflator is 125.
• C)nominal GDP is $400, real GDP is $400, and the GDP deflator is 100.
• D)nominal GDP is $400, real GDP is $500, and the GDP deflator is 125.

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Definitions:

ENIAC

ENIAC, or Electronic Numerical Integrator and Computer, was one of the earliest electronic general-purpose computers made, operational in 1945.

Digital Computer

An electronic device that processes information in binary form and performs computations according to programmed instructions.

Storage Decay

Storage decay refers to the theory that information fades from memory over time if it is not accessed or used, leading to forgetting.

Physical Memory Trace

Hypothetical means by which memories are stored physically in the brain.