Describe nominal gdp and real gdp in year four

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Reference no: EM1363207

Suppose that a very small economy produces only televisions and computers. Determine nominal GDP and real GDP in year four using the following information: in year one, the base year, 10 computers sold at $2000 each, and 15 televisions sold at $500 each. In year four, 17 computers sold at $2200 each and 20 televisions sold at $550 each.

Reference no: EM1363207

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