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 years 2011 and 2014. Instructions: Enter your responses as whole numbers.      Pucks pucks root beer root beer sandals sandals Year  Quantity Price  Quantity Price  Quantity Price 2011 100 $5 300 $15 100 $20 2014 125 $7 250 $20 110 $25 Assume that 2011 is the base year. Find nominal GDP and real GDP for both years.      Year Nominal GDP Real GDP   2011 $ $   2014 $ $

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Chapter7: Demand And Supply
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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 years 2011 and 2014.

Instructions: Enter your responses as whole numbers.
  

  Pucks pucks root beer root beer sandals sandals
Year  Quantity Price  Quantity Price  Quantity Price
2011 100 $5 300 $15 100 $20
2014 125 $7 250 $20 110 $25


Assume that 2011 is the base year. Find nominal GDP and real GDP for both years.
  

  Year Nominal GDP Real GDP
  2011 $ $
  2014 $ $
 

 

 
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