bananaland

So a banana produced in bananaland and a banana produced in bananaland and shipped to NYC to be sold in a deli there are the same when in bananaland for purposes of calculating the GDP of bananaland.

Virtual World Economy: It's Namibia, Basically. 2004

So if a banana costs 10c in bananaland and $1 in New York, are you saying we calculate the contribution of bananas to bananaland's GDP at the rate of 10c per banana of $1 per banana?

Virtual World Economy: It's Namibia, Basically. 2004

It may be standard Economics practice to regard a banana in bananaland as having the same value as a banana sold in a New York deli, but that says more about the way that Economics is studied than it does about the price of bananas.

Virtual World Economy: It's Namibia, Basically. 2004

You could get 10 bananas for $1 if you went to bananaland.

Virtual World Economy: It's Namibia, Basically. 2004