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19. What is the real GDP in Year R, given that Year 1 is considered the base year? 20. What is the real GDP per

19. What is the real GDP in Year R, given that Year 1 is considered the base year? 20. What is the real GDP per capita for Year 2?

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ation to answer questions 18 - 20: Westeros, a kingdom of 10,000 residents, produces two items-swords and wine. Prices in this kingdom are measured in the local unit of currency, Dragoons. Below are the prices and production levels for both good over the last 2 years. Product Year 1 Output Year 1 Price Year 2 Output Year 2 Price Swords 10,000 50 Dragoons 20,000 60 Dragoons Wine 5,000 20 Dragoons 6,000 30 Dragoons 18. What is the nominal GDP in Year 2? a. 600,000 b. 1,380,000 c. 1,980,000 d. 1,120,000

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