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Question Etruria produces only two products: tennis racquets and tennis balls. Data on their production are shown in the following table: 2019 Output 2019 Prices

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Question Etruria produces only two products: tennis racquets and tennis balls. Data on their production are shown in the following table: 2019 Output 2019 Prices 2020 Outputs 2020 Prices 2021 Outputs 2021 Prices Tennis Racquets 200 $80 210 $85 215 $90 Tennis Balls 500 $5 520 $5.25 600 $6 Based on this data and using 2019 as the base year, answer the following questions: a) What is the value of nominal GDP in 20207 b) What is the value of real GDP in 2020? c) What is the value of real GDP in 2021? d) What is the value of the GDP deflator in 2020? e) What is the value of the GDP deflator in 2021? ANSWER QUESTION HERE (8 MARKS) ANSWER FULLY EXPLAIN YOUR ANSWER AND SHOW CALCULATIONS C. d. e

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