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L ALTERNATIVE CLASSROOM EXAMPLE: The country of Sportstown produces two goods: footballs and basketballs. Below is a table showing prices and quantities of output for

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L ALTERNATIVE CLASSROOM EXAMPLE: The country of Sportstown produces two goods: footballs and basketballs. Below is a table showing prices and quantities of output for three years! Year Quantity of Price of Quantity of Basketballs Basketballs Price of Footballs Footballs Year 1 S10 120 $12 200 Year 2 12 200 15 300 Year 3 14 180 18 275 Nominal GDP in Year 1 = Nominal GDP in Year 2 = Nominal GDP in Year 3 = Using Year 1 as the Base Year Real GDP in Year 1 = Real GDP in Year 2 = Real GDP in Year 3 = GDP deflator for Year 1 = GDP deflator for Year 2 = GDP defiator for Year 3 =

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