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Q10 MCQ - GDP - 03 6 Points Suppose that a country only produces two products: oats and barley. In 2021, 40 bushels of oats
Q10 MCQ - GDP - 03 6 Points Suppose that a country only produces two products: oats and barley. In 2021, 40 bushels of oats are produced and sold at $6 per bushel, and 20 bushels of barley are produced and sold at $5 per bushel. In 2019, the price of oats was $3 per bushel and the price of barley was $2.50 per bushel. Using 2019 as the base ydar, it follows that, for 2021, O nominal GDP is $340, real GDP is $170, and the GDP deflator is 200. nominal GDP is $340, real GDP is $170, and the GDP deflator is 50. O nominal GDP is $100, real GDP is $50, and the GDP deflator is 200. O nominal GDP is $170, real GDP is $340, and the GDP deflator is 50
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