Multiple Choice
Assume an economy that is producing only one product. Output and price data for a three-year period are shown in the table. If year 2 is chosen for the base year, in year 3 nominal GDP and real
GDP, respectively, are
A) $180 and $30.
B) $30 and $5.
C) $180 and $120.
D) $120 and $100.
Correct Answer:

Verified
Correct Answer:
Verified
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