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1. Fill in the following table of real GDP Table 1: Real and Nominal GDP in a Simple Economy 2018-20 Percentage Change Year 2018 Year
1. Fill in the following table of real GDP Table 1: Real and Nominal GDP in a Simple Economy 2018-20 Percentage Change Year 2018 Year 2019 Year 2020 2019-20 Quantity of Basketballs 100 110 100 Quantity of Oranges 5000 5000 5500 Price of Basketballs $9 $10 $11 Price of Oranges $2 $2.5 $2 Nominal GDP Real GDP in 2018 prices Real GDP in 2019 prices Real GDP in 2020 prices Real GDP in chained prices benchmarked to 20201. Fill in the following table of real GDP Table 1: Real and Nominal GDP in a Simple Economy 2018-20 Percentage Change Year 2018 Year 2019 Year 2020 2019-20 Quantity of Basketballs 100 110 100 Quantity of Oranges 5000 5000 5500 Price of Basketballs $9 $10 $11 Price of Oranges $2 $2.5 $2 Nominal GDP Real GDP in 2018 prices Real GDP in 2019 prices Real GDP in 2020 prices Real GDP in chained prices benchmarked to 2020
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