Suppose the following table: 2014 2015 2016 Product Quantity Price Quantity Price Quantity Price Mobile 40 $250 45 $255 50 $250 Bread 2,000 2.00 2,200 2.25 2,300 2.40 Shoes 300 50 310 52 350 55 a. Calculate the nominal GDP for 2014, 2015, and 2016 based on the above information. b. Calculate the real GDP for 2014, 2015 and 2016 based on the above information, taking 2014 as the base year. c. How much is economic growth between 2014 and 2015, and between 2015 and 2016?

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