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.

Learn the Borda count method for voting and its application in elections.

Apply mathematical reasoning to problems involving resource allocation.

Understand the concept of equitable distribution in various contexts including familial support and food distribution.

Identify strategic decision-making in division of goods based on utility functions.

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Definitions:

Sexual Behavior

Actions related to sexuality and sexual interaction, encompassing a wide range of activities and practices between individuals.

Karl Ulrichs

A pioneering German writer and activist of the 19th century, regarded as one of the first to publicly argue for homosexual and transgender rights.

Karl Maria Kertbeny

The Hungarian-born writer and human rights advocate who coined the term "homosexual" in the 19th century.

Homosexuals

Homosexuals are individuals who are emotionally, romantically, or sexually attracted to people of their own sex.