Hotel Rooms in Radnor, PA go for $100 a day and 1,000 rooms are rented per day. To raise revenue, the Township Manager decides to charge a hotel tax…
September 3, 2020
nto such serious foreign debt problems and what are the implications of this debt for both the economics of less developed and more developed nations?…
September 3, 2020

Suppose an economy produces two products: meat pies and MP3s. In 2011, 20 meat pies are sold at $5 each, and eight MP3s are sold at $50 each. In 2010, the base year, the price of meat pies was $10 each, and the price of MP3s was $75 each. Therefore: A.  the real 2011 GDP is $800, and the GDP deflator is 62.5

B.  the real 2011 GDP is $800, and the GDP deflator is 160

C.  the real 2011 GDP is $500, and the GDP deflator is 62.5

D.  the real 2011 GDP is $500, and the GDP deflator is 160

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