What was the gdp for 2014

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Assignment:

In a two good economy, only burritos and t-shirts are sold. In 2014, the base year, the price of a burrito was $7.25 and 10 burritos were sold. Meanwhile, in 2014, the price of a t-shirt was $5.00, and 100 were sold. In 2015, the price of a burrito was $8.50 and 8 burritos were sold, and the price of a t-shirt was $4.00 and 110 t-shirts were sold. What was the GDP for 2014? What was the nominal GDP (NGDP) for 2015 and the real GDP (RGDP) for 2015?

Reference no: EM133952910

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