[Related to Solved problem] Suppose that a simple economy produces only the following four goods and services: textbooks, hamburgers, shirts and cotton. Assume that half of the cotton is used in the production of shirts. Use the information in the following table to calculate nominal GDP for 2018. PRODUCTION AND PRICE STATISTICS FOR 2018 Product Quantity Price ($) Textbooks 150 70.00 Hamburgers Shirts 125 3.00 75 30.00 Cotton 600 0.80 Nominal GDP for the year 2018 is $. "Enter your response as a real number.)

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