Business, 18.04.2020 01:19 FunnySkittle

Suppose an economy produces only cheese and fish. In 2010, 20 units of cheese are sold at $5 each and 8 units of fish are sold at $50 each. In 2009, the base year, the price of cheese was $10 per unit and the price of fish was $75 per unit. For 2010,

A. nominal GDP is $500, real GDP is $800, and the GDP deflator is 62.5.
B. nominal GDP is $500, real GDP is $800, and the GDP deflator is 160.
C. nominal GDP is $800, real GDP is $500, and the GDP deflator is 62.5.
D. nominal GDP is $800, real GDP is $500, and the GDP deflator is 160.

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Suppose an economy produces only cheese and fish. In 2010, 20 units of cheese are sold at $5 each an...