QUESTION 38 Table 2 contains data for the country of Dachsland, which produces only pretzels and books. The base year is 2005. Refer to Table 2. In 2005, Dachsland's Year Price of Books $1.50 $2.00 $2.50 Quantity of Books Price Quantity of of Pretzels Pretzels 2005 $4.00 90 2006 $4.00 100 2007 $5.00 120 2008 $6.00 150 $3.50 200 ⒸA. nominal GDP was equal to real GDP, and the GDP deflator was equal to 100. B. nominal GDP was less real GDP, and the GDP deflator was less than 100. OC. nominal GDP was greater than real GDP, and the GDP deflator was greater than 100. OD. nominal GDP was equal to real GDP, and the GDP deflator was equal to 1. 150 180 200

QUESTION 38 Table 2 contains data for the country of Dachsland, which produces only pretzels and books. The base year is 2005. Refer to Table 2. In 2005, Dachsland's Year Price of Books $1.50 $2.00 $2.50 Quantity of Books Price Quantity of of Pretzels Pretzels 2005 $4.00 90 2006 $4.00 100 2007 $5.00 120 2008 $6.00 150 $3.50 200 ⒸA. nominal GDP was equal to real GDP, and the GDP deflator was equal to 100. B. nominal GDP was less real GDP, and the GDP deflator was less than 100. OC. nominal GDP was greater than real GDP, and the GDP deflator was greater than 100. OD. nominal GDP was equal to real GDP, and the GDP deflator was equal to 1. 150 180 200

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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