An island economy produces only bananas and coconuts. The table gives the quantities produced and prices in
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An island economy produces only bananas and coconuts. The table gives the quantities produced and prices in 2018 and in 2019. The base year is 2018.
Calculate nominal GDP in 2018 and nominal GDP in 2019.
Transcribed Image Text:
Item Quantity Bananas Coconuts 2018 100 50 Price $10 $12 2019 Quantity 110 60 Price $15 $10
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