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Product Good) Good K Output and Prices for 2005 and 2006 Quantity produced in 2005 Price in 2005 Quantity produced in 2006 51 $9.75 60 56.5 110 Price in 2006 $102 $65 100 Given the information in the table above for an economy that produces only Good and Good Kanswer the questions that follow. Do not enter dollar signs or commas in your answers 1. What was the value of nominal GDP in the year 2005$ 2. What was the value of nominal GDP in the year 20067$ 3. What was the value of real GDP in the year 2005 i 2006 is the base year? 4. What was the value of real GDP in the year 2006 i 2005 is the base year