Provides data on prices and quantities of the three goods

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The nation of Potchatoonie produces hockey pucks, cases of root beer, and sandals. The following table provides data on prices and quantities of the three goods in the years 2011 and 2014. Pucks Root beer Sandals Year Quantity Price Quantity Price Quantity Price 2011 100 $5 300 $20 100 $20 2014 125 $7 250 $20 110 $25 Instructions: Enter your responses as whole numbers. Assume that 2011 is the base year. Find nominal GDP and real GDP for both years. Year Nominal GDP Real GDP 2011 $ $ 2014 $ $

Reference no: EM131244305

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