Bananaland produces only bananas and sunscreen and the quantities and prices for 2012 and 2013 are given in the table above.
-The base year is 2012. In 2013, which is larger: Nominal GDP or real GDP?
A) real GDP is larger
B) both are the same size
C) the answer is ambiguous
D) nominal GDP is larger
E) More information is needed to determine which is larger.
Correct Answer:
Verified
Q54: Investment includes
A)student purchases of laptops.
B)GM's purchase of
Q55: Q56: Q57: Nominal GDP measures the value of goods Q58: If consumption was 70 percent of GDP Q60: According to the income approach to measuring Q61: Which of the following would NOT be Q62: During the business cycle, Q64: According to the expenditure approach to measuring Q74: Total expenditure equals
A)real GDP fluctuates around
A)C + I + G
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