Table 5-4
The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2008.
Prices and Quantities
-Refer to Table 5-4. In 2008, this country's
A) nominal GDP was greater than real GDP, and the GDP deflator was greater than 100.
B) nominal GDP was equal to real GDP, and the GDP deflator was equal to 1.
C) nominal GDP was less than real GDP, and the GDP deflator was less than 100.
D) nominal GDP was equal to real GDP, and the GDP deflator was equal to 100.
Correct Answer:
Verified
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