I am trying to verify my answers to my homework. Please give a brief explanation on why you chose your answer. Thanks :-)
Multiple Choice (3 pts each)
Identify the choice that best completes the statement or answers the question.
Table 23-4
The table below contains data for the country of Dachsland, which produces only pretzels and books. The base year is 2005.
Year Price Quantity Price Quantity
of of of of
Pretzels Pretzels Books Books
2005 $4.00 90 $1.50 150
2006 $4.00 100 $2.00 180
2007 $5.00 120 $2.50 200
2008 $6.00 150 $3.50 200
____ 15. Refer to Table 23-4. In 2007, Dachsland’s
a. nominal GDP was $585, real GDP was $780, and the GDP deflator was 75.
b. nominal GDP was $585, real GDP was $825, and the GDP deflator was 70.9.
c. nominal GDP was $1100, real GDP was $780, and the GDP deflator was 141.0.
d. nominal GDP was $1100, real GDP was $825, and the GDP deflator was 133.3.
