Suppose an economy produces only iphones and bananas. in 2010, 1000 iphones are sold at $300 each and 5000 pounds of bananas are sold at $3 per pound. in 2009, the base year, iphones sold at $400 each and bananas sold at $2 per pound. for 2010,
a. nominal gdp is $315,000, real gdp is $410,000, and the gdp deflator is 130.16.
b. nominal gdp is $410,000, real gdp is $315,000, and the gdp deflator is 130.16.
c. nominal gdp is $315,000, real gdp is $410,000, and the gdp deflator is 76.83.
d. nominal gdp is $410,000, real gdp is $315,000, and the gdp deflator is 76.83.