Nation of potchatoonie produces hockey pucks

Reference no: EM1321427

Q. The nation of Potchatoonie produces hockey pucks, cases of root beer also back rubs. Here are the data on costs also quantities of the 3 goods in the yrs 2000 also 2007.

Pucks Root Beer Back Rubs
Yr Quantity Cost Quantity Cost Quantity Cost
2000 100 \$5 300 \$20 100 \$20
2007 125 \$7 250 \$20 110 \$25
Assume 2000 is the base yr. Find nominal GDP also real GDP for each yr.

Q. Approximately illustrate what percent (%)age of the world's economies experience scarcity?

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