Suppose an Economy Produces Only Cranberries and Maple Syrup

question 46

Multiple Choice

Suppose an economy produces only cranberries and maple syrup.In 2010,50 units of cranberries are sold at $20 per unit and 100 units of maple syrup are sold at $8 per unit.In 2009,the base year,the price of cranberries was $10 per unit and the price of maple syrup was $15 per unit.For 2010,

• A)nominal GDP is $1800,real GDP is $2000,and the GDP deflator is 90.
• B)nominal GDP is $1800,real GDP is $2000,and the GDP deflator is 111.1.
• C)nominal GDP is $2000,real GDP is $1800,and the GDP deflator is 90.
• D)nominal GDP is $2000,real GDP is $1800,and the GDP deflator is 111.1.

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Definitions:

Verbal Communication

The use of spoken words to convey messages, ideas, or feelings between individuals.

Emotional Expressions

Observable manifestations of emotions through facial expressions, body language, tone of voice, and other behaviors.

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A psychological condition marked by erratic moods, actions, and interpersonal connections.

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Actions or habits that are harmful or counterproductive to one's self or obstruct personal growth and adjustment.