The nation of Potchatoonie produces hockey pucks, cases of root beer, and back rubs. Here are data on prices and quantities of the three goods in the years 2000 and 2005. (LO3)

Assume that 2000 is the base year. Find nominal GDP and real GDP for both years.

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Pucks Year Quantity Price Root beer Back rubs Quantity Price Quantity Price 2000 100 $5 300 $20 100 $20 2005 125 $7 250 $20 110 $25