-Bananaland produces only bananas and sunscreen and the quantities and prices for 2010 and 2011 are given in the table above.The base year is 2010.In 2011, which is larger: Nominal GDP or real GDP?
A) nominal GDP is larger
B) real GDP is larger
C) both are the same size
D) the answer is ambiguous
E) More information is needed to determine which is larger.
Correct Answer:
Verified
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A)fall in the value of an
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