Suppose an economy produces only cranberries and maple syrup. In 2010, 50 units of cranberries are sold at $20 per unit and 100 units of maple syrup are sold at $8 per unit. In 2009, the base year, the price of cranberries was $10 per unit and the price of maple syrup was $15 per unit. For 2010, a. nominal GDP is $1800, real GDP is $2000, and the GDP deflator is 90. b. nominal GDP is $1800, real GDP is $2000, and the GDP deflator is 111.1. c. nominal GDP is $2000, real GDP is $1800, and the GDP deflator is 90. d. nominal GDP is $2000, real GDP is $1800, and the GDP deflator is 111.1.
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