Homework Answers
Answer : The answer is option C.
Nominal GDP = Current year price * Quantity = (1 * 200) + (2 * 300) = 200 + 600
=> Nominal GDP = $800
Here Base year and Current year is same. So,
Real GDP = Base year price level * Quantity = (1 * 200) + (2 * 300) = 200 + 600
=> Real GDP = $800
Therefore, option C is correct.
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