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) Because real GDP and nominal GDP use different prices, it is not possible to determine which grew most rapidly.
B) both grew at the same rate
C) real GDP grew more rapidly
D) nominal GDP grew more rapidly
E) More information is needed to determine which grew more rapidly.
Correct Answer:
Verified
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A)Y = C +
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A)If
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A)"a decrease
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