Multiple Choice
Harry's Pepperoni Pizza Parlor produced 10,000 large pepperoni pizzas last year that sold for $10 each.This year Harry's again produced 10,000 large pepperoni pizzas (identical to last year's pizzas) but sold them for $12 each.Based on this information we can conclude that Harry's production of large pepperoni pizzas this year:
A) increased nominal GDP by $20,000 but left real GDP unchanged.
B) increased nominal GDP by $120,000 and increased real GDP by $100,000.
C) left nominal GDP unchanged but increased real GDP by $20,000.
D) increased nominal GDP by $120,000 but left real GDP unchanged.
Correct Answer:
Verified
Correct Answer:
Verified
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