Suppose an Economy Produces Only Eggs and Ham

question 24

Multiple Choice

Suppose an economy produces only eggs and ham.In 2009,100 dozen eggs are sold at $3 per dozen and 50 pounds of ham sold at $4 per pound.In 2010,the base year,eggs sold at $1.50 per dozen and ham sold at $5 per pound.For 2009,

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

---

Definitions:

Preview

A brief viewing or explanation given in advance about something that is to follow, often used for movies, events, or product launches.

Audience Interest

The level of engagement or attention that listeners or readers show in a particular topic, presentation, or written content, which can influence how information is received.

Amusing Observation

A remark or comment that is entertaining and funny, often highlighting an unusual or ironic aspect.

Storytelling

The act of conveying events, concepts, or messages through narrative and creative expression, often to entertain, educate, or instill moral values.