-Suppose That the Country of Samiam Produces Only Eggs and Ham

question 85

Multiple Choice

-Suppose that the country of Samiam produces only eggs and ham. In 2010 it produced 100 units of eggs at $3 each and 50 units of ham at $4 each. In 2006, the base year, eggs sold for $1.50 per unit and ham sold for $5 per unit. What can we conclude?

• 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:

Confederacy

The collective name for the eleven Southern states that seceded from the United States in 1860-1861, leading to the Civil War.

Jefferson Davis

Jefferson Davis was the President of the Confederate States of America during the American Civil War, representing the Southern states that seceded from the Union.

Northern White Women

Refers to women who lived in the Northern states of the United States during various historical periods, often with different social and economic experiences from those in the South.