In the Country of Mainia,only Cranberries and Maple Syrup Are

question 159

Multiple Choice

In the country of Mainia,only cranberries and maple syrup are produced.In 2006,50 units of cranberries are sold at $20 per unit,and 100 units of maple syrup are sold at $10 per unit.The price of cranberries was $10 per unit and the price of maple syrup was $15 per unit in 2005,which is the base year.For 2006,

• A)nominal GDP is $2,000, real GDP is $2,000, and the GDP deflator is 100.
• B)nominal GDP is $2,000, real GDP is $2,500, and the GDP deflator is 125.
• C)nominal GDP is $2,500, real GDP is $2,000, and the GDP deflator is 83.3.
• D)None of the above is correct.

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Definitions:

African Colonies

Territories in Africa that were under the control of European powers from the late 19th century to the mid-20th century.

Apartheid

A policy or system of segregation or discrimination on grounds of race implemented by the National Party government of South Africa from 1948 to 1994.

Otto von Bismarck

A German statesman who served as Prime Minister of Prussia and was the first Chancellor of the German Empire, known for his role in the unification of Germany.