Suppose an economy produces only cheese and fish. In 2008, 20 units of cheese are sold at $5 each and 8 units of fish are sold at $50 each. In 2007, the base year, the price of cheese was $10 per unit and the price of fish was $75 per unit. For 2008, ( )? nominal GDP is $800, real GDP is $500, and the GDP deflator is 160.|nominal GDP is $500, real GDP is $800, and the GDP deflator is 160.|nominal GDP is $500, real GDP is $800, and the GDP deflator is 62.5.|nominal GDP is $800, real GDP is $500, and the GDP deflator is 62.5.
举一反三
- According to the assumptions of the quantity theory of money, if the money supply decreases by 7 percent, then A: nominal and real GDP would fall by 7 percent. B: nominal GDP would fall by 7 percent; real GDP would be unchanged. C: nominal GDP would be unchanged; real GDP would fall by 7 percent. D: neither nominal GDP nor real GDP would change.
- When economists talk about growth in the economy, they measure that growth as the A: absolute change in nominal GDP from one period to another. B: percentage change in nominal GDP from one period to another. C: absolute change in real GDP from one period to another. D: percentage change in real GDP from one period to another.
- 【单选题】The CPI differs from the GDP deflator in that the CPI A. includes raw material prices whereas the GDP deflator does not. B. includes only goods whereas the GDP deflator includes both goods and services. C. includes only services whereas the GDP deflator includes both goods and services. D. includes only items the typical household buys, whereas the GDP deflator includes all goods and services produced in the economy.
- 以下______可以作为物价指数。 A: GDP Deflator B: GNP C: GNI D: constant—price GDP
- Real and nominal variables are highly intertwined, and changes in the money supply change real GDP in the short run.