Multiple Choice
-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) 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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