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Choice A Suppose an economy produces only green peppers and red peppers. In 2009, the base year, it produced 100 green peppers and 50 red
Choice A Suppose an economy produces only green peppers and red peppers. In 2009, the base year, it produced 100 green peppers and 50 red peppers and sold them at prices of $2 per green pepper and $3 per red pepper. In 2010, it produced 150 green peppers and 60 red peppers and sold them at prices of $2 per green pepper and $4 per red pepper. 1) [1.5 pts] Calculate the nominal GDP in 2010. II) [1.5 pts] Calculate the real GDP in 2010
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