-Bananaland produces only bananas and sunscreen and the quantities and prices for 2012 and 2013 are given in the table above.Between 2012 and 2013,which grew more rapidly,nominal GDP or real GDP?
A) Nominal GDP grew more rapidly.
B) Real GDP grew more rapidly.
C) Both grew at the same rate.
D) Because real GDP and nominal GDP use different prices,it is not possible to determine which grew most rapidly.
E) More information is needed to determine which grew more rapidly.
Correct Answer:
Verified
Q206: Comparing nominal GDP of 2012 to nominal
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A)is less valuable to us than
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A)GDP decreases because of
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