Consider an economy that produces oranges and boomerangs. The prices and quantities of these goods in two different years are reported in the table below. Fill in the boxes. If you expect real GDP to keep growing at the same rate as between 2016 and 2017, what is your forecast of the level of real GDP in 2018 (benchmarked to the 2017 value in chained prices)? Find the percentage change between 2017 and 2016 on each of the fill in table questions.

Percentage change 2016 2017 2016-2017 Quantity of oranges 100 105 Quantity of boomerangs 20 22 Price of an orange (dollars) 1.20 Price of a boomerang (dollars) 3.10 Nominal GDP Real GDP in 2016 prices Real GDP in 2017 prices Real GDP in chained prices (benchmarked to 2017)