-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:

Free Recall

A memory task in which a person must retrieve stored information without the aid of cues.

Seven Dwarves

Fictional characters from the fairy tale "Snow White," each with distinct personalities and roles within the story.

Nonsense Syllables

Meaningless sets of two or more letters used in psychological experiments to study memory and learning.

Von Restorff Effect

A psychological phenomenon where an item that noticeably stands out is more likely to be remembered than other items.