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 Year Price of Cereal Quantity of Price of Milk Quantity of Cereal Milk 2008 $4.00 90 $1.50 150 2011 $6.00 150 $3.50 200 In 2011, this country's Select one: O a. real GDP was $900, and the GDP deflator was 177.8 O b. real GDP was $1065, and the GDP deflator was 150.2 O c. real GDP was $900, and the GDP deflator was 150.2 Od. real GDP was $1065. and the GDP deflator was 177.8 Next page ge
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 Year Price of Cereal Quantity of Price of Milk Quantity of Cereal Milk 2008 $4.00 90 $1.50 150 2011 $6.00 150 $3.50 200 In 2011, this country's Select one: O a. real GDP was $900, and the GDP deflator was 177.8 O b. real GDP was $1065, and the GDP deflator was 150.2 O c. real GDP was $900, and the GDP deflator was 150.2 Od. real GDP was $1065. and the GDP deflator was 177.8 Next page ge
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Economic Fluctuations, Unemployment, And Inflation
Section: Chapter Questions
Problem 14CQ
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Question
![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
Year
Price of Cereal
Quantity of
Price of Milk
Quantity of
Cereal
Milk
2008
$4.00
90
$1.50
150
2011
$6.00
150
$3.50
200
In 2011, this country's
Select one:
real GDP was $900, and the GDP deflator was 177.8
O.b. real GDP was $1065, and the GDP deflator was 150.2
Oc.
real GDP was $900, and the GDP deflator was 150.2
O d. real GDP was $1065, and the GDP deflator was 177.8
Next page
ge](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F620845ba-58f6-46cb-950c-72010bab3024%2F29e77412-6926-4de3-9ccf-f01e3e181deb%2Fp4f0q6wd_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
Year
Price of Cereal
Quantity of
Price of Milk
Quantity of
Cereal
Milk
2008
$4.00
90
$1.50
150
2011
$6.00
150
$3.50
200
In 2011, this country's
Select one:
real GDP was $900, and the GDP deflator was 177.8
O.b. real GDP was $1065, and the GDP deflator was 150.2
Oc.
real GDP was $900, and the GDP deflator was 150.2
O d. real GDP was $1065, and the GDP deflator was 177.8
Next page
ge
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