The nation of Small-Land produces soccer balls, cases of bear, and painkillers. Here are data on prices and quantities of the three goods in 2000 and 2005:

Assume that 2000 is the base year, compute the nominal GDP and real GDP for year 2005.

Year Balls Quantity 2000 100 2005 125 Price () 5 7 Beer Quantity 300 250 Price () 20 20 Painkillers Quantity 100 110 Price () 20 25