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Suppose an economy consists of only three goods, as shown in this Table: Table 2 Donuts Sushi Fiction Novels 2020 price $12 $6 $50 2020

Suppose an economy consists of only three goods, as shown in this Table: Table 2 Donuts Sushi Fiction Novels 2020 price $12 $6 $50 2020 quantity 100 10 200 2021 price $12 $7 $60 2021 quantity 110 15 200 (a) What is the nominal value of GDP in 2020 and 2021? (b) What is real GDP in 2020 and 2021? How much (in percentage terms) did real GDP change between 2020 and 2021

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