Question :
41.Supposeaneconomyproducesonlyeggsandham.In2009,100dozeneggsaresoldat$3perdozenand50poundsofhamsoldat$4perpound.In2010,thebaseyear,eggssoldat$1.50perdozenandhamsoldat$5perpound.For2009,
a.nominalGDPis$4 : 1261655
41.Supposeaneconomyproducesonlyeggsandham.In2009,100dozeneggsaresoldat$3perdozenand50poundsofhamsoldat$4perpound.In2010,thebaseyear,eggssoldat$1.50perdozenandhamsoldat$5perpound.For2009,
a.nominalGDPis$400,realGDPis$500,andtheGDPdeflatoris80.
b.nominalGDPis$400,realGDPis$500,andtheGDPdeflatoris125.
c.nominalGDPis$500,realGDPis$400,andtheGDPdeflatoris80.
d.nominalGDPis$500,realGDPis$400,andtheGDPdeflatoris125.
42.Supposeaneconomyproducesonlycranberriesandmaplesyrup.In2010,50unitsofcranberriesaresoldat$20perunitand100unitsofmaplesyruparesoldat$8perunit.In2009,thebaseyear,thepriceofcranberrieswas$10perunitandthepriceofmaplesyrupwas$15perunit.For2010,
a.nominalGDPis$1800,realGDPis$2000,andtheGDPdeflatoris90.
b.nominalGDPis$1800,realGDPis$2000,andtheGDPdeflatoris111.1.
c.nominalGDPis$2000,realGDPis$1800,andtheGDPdeflatoris90.
d.nominalGDPis$2000,realGDPis$1800,andtheGDPdeflatoris111.1.
43.Supposeaneconomyproducesonlycheeseandfish.In2010,20unitsofcheesearesoldat$5eachand8unitsoffisharesoldat$50each.In2009,thebaseyear,thepriceofcheesewas$10perunitandthepriceoffishwas$75perunit.For2010,
a.nominalGDPis$500,realGDPis$800,andtheGDPdeflatoris62.5.
b.nominalGDPis$500,realGDPis$800,andtheGDPdeflatoris160.
c.nominalGDPis$800,realGDPis$500,andtheGDPdeflatoris62.5.
d.nominalGDPis$800,realGDPis$500,andtheGDPdeflatoris160.
44.SupposeaneconomyproducesonlyiPhonesandbananas.In2010,1000iPhonesaresoldat$300eachand5000poundsofbananasaresoldat$3perpound.In2009,thebaseyear,iPhonessoldat$400eachandbananassoldat$2perpound.For2010,
a.nominalGDPis$315,000,realGDPis$410,000,andtheGDPdeflatoris76.83.
b.nominalGDPis$410,000,realGDPis$315,000,andtheGDPdeflatoris130.16.
c.nominalGDPis$315,000,realGDPis$410,000,andtheGDPdeflatoris130.16.
d.nominalGDPis$410,000,realGDPis$315,000,andtheGDPdeflatoris76.83.
45.Supposeaneconomyproducesonlyburgersandbagsoffries.In2010,4000burgersaresoldat$3eachand6000bagsoffiresaresoldat$1.50each.In2008,thebaseyear,burgerssoldfor$2.50eachandbagsoffriessoldfor$2each.
a.nominalGDPis$22,000,realGDPis$21,000,andtheGDPdeflatoris95.45.
b.nominalGDPis$22,000,realGDPis$21,000,andtheGDPdeflatoris104.77.
c.nominalGDPis$21,000,realGDPis$22,000,andtheGDPdeflatoris95.45.
d.nominalGDPis$21,000,realGDPis$22,000,andtheGDPdeflatoris104.77.
46.AcountryreportednominalGDPof$100billionin2010and$75billionin2009.ItalsoreportedaGDPdeflatorof125in2010and 120in2009.Between2009and2010,
a.realoutputandthepricelevelbothrose.
b.realoutputroseandthepricelevelfell.
c.realoutputfellandthepricelevelrose.
d.realoutputandthepricelevelbothfell.
47.AcountryreportednominalGDPof$200billionin2010and$180billionin2009.ItalsoreportedaGDPdeflatorof125in2010and 105in2009.Between2009and2010,
a.realoutputandthepricelevelbothrose.
b.realoutputroseandthepricelevelfell.
c.realoutputfellandthepricelevelrose.
d.realoutputandthepricelevelbothfell.
48.AcountryreportednominalGDPof$115billionin2010and$125billionin2009.ItalsoreportedaGDPdeflatorof85in2010and100in2009.Between2009and2010,
a.realoutputandthepricelevelbothrose.
b.realoutputroseandthepricelevelfell.
c.realoutputfellandthepricelevelrose.
d.realoutputandthepricelevelbothfell.
49.AcountryreportedanominalGDPof$85billionin2010and$100billionin2009.ItalsoreportedaGDPdeflatorof100in2010and 105in2009.Between2009and2010,
a.realoutputandthepricelevelbothrose.
b.realoutputroseandthepricelevelfell.
c.realoutputfellandthepricelevelrose.
d.realoutputandthepricelevelbothfell.
Table23-4
ThetablebelowreportsnominalandrealGDPfortheU.S.from1929to1932.
Year
Nominal
GDPRealGDP
1929
103.6977
1930
91.2892.8
1931
76.5834.9
1932
58.7725.8
50.RefertoTable23-4.WhataretheGDPdeflatorandtheinflationratefor1931?
a.9.16,-11.5
b.9.16,-10.3
c.1091.37,10.3
d.1091.37,11.5