1) During the production process of goods and services produced within the nation during 2020, the total income generated is as follows: a) Salaries and wages to households providing labor (L): 500,000 ; b) Profit and rent to households providing capital and land (K,T): 5,000,000 t. Based on the above information, determine the value of nominal GDP for 2020. Thoroughly explain your answer. 2) During 2020, Nation Z produced only 10 goods. Goods A, B C, D and E are intermediate goods. Goods F, G, H, I and J are final goods. The intermediate goods (A, B, C, D and E) are used in the production of the final goods (F, G, H, I and I). The quantities produced and sold of each good in 2019 are as follows: Qa= 50 units; Q8= 40 units; Qc= 60 units; Qo= 70 units; Qe= 30 units; Q== 40 units; Qg= 60 units; Qu= 50 units; Q= 30 units; Q = 70 units. The 2019 market prices of each good are as follows: Pa= 200; P = 30+; P= 60; P = 50; Pe= 40; Pr= 300; Pg= 200; PH= 50; P,= 40; P = 30. Based on the above information, determine the value of nominal GDP for 2020. Thoroughly explain your