Assume an Economy That Is Producing Only One Product Refer to the Data

question 49

Multiple Choice

Assume an economy that is producing only one product.Output and price data for a three-year period are as follows.Answer the question on the basis of these data. $\begin{array}{c}\begin{array}{c}\\\underline{\text { Year }} \\1 \\2 \\3\end{array}\begin{array}{c}\text { Units of}\\\underline{\text {Output}}\\20\\25\\30\end{array}\begin{array}{c}\text {Price Per}\\\underline{\text {Unit}}\\ \$ 4 \\4\\6 \end{array}\end{array}$
Refer to the data.If year 2 is chosen for the base year,in year 3 nominal GDP and real GDP,respectively,are:

• A) $180 and $30.
• B) $30 and $5.
• C) $180 and $120.
• D) $120 and $100.

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