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5b. Suppose an economy's GDP consist only of stereos and TVs. The table below shows the production of these goods in 1993 and 1994. Table

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5b. Suppose an economy's GDP consist only of stereos and TVs. The table below shows the production of these goods in 1993 and 1994. Table 1. 1993 1994 Price quantity price quantity Stereos 500 200 75 100 750 380 110 130 TV 5b. How much was nominal GDP in 1993? 5c. How much was nominal GDP in 1994? 5d. If 1993 was the base year, what was real GDP in 1994? 5f. If 1994 was the base year, what was real GDP in 1993

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