Consider an economy that produced 100 bottles of beer and 100
pounds of beans in 1980. In that year beer sold for $2 per bottle
and beans for $1 per pound. In 1990 the economy produced 120
bottles of beer and 200 pounds of beans. The prices were $5 for
beer and $2 for beans. In 1990, nominal output, real output in
1980 dollars and the implicit output deflator are, respectively
1. $320, $200 and 160.
2. $320, $200 and 1.60.
3. $1000, $440 and 227.3.
4. $1000, $440 and 2.273.
Choose the correct answer.