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Suppose Country A produces tennis balls, basketballs, and soccer balls. The following table provides data on the prices and quantities of the three goods in
Suppose Country A produces tennis balls, basketballs, and soccer balls. The following table provides data on the prices and quantities of the three goods in 2017 and 2019. Year Tennis ball Basketball Soccer ball Quantity Price Quantity Price Quantity Price 2017 100 $5 300 $20 75 $20 2019 125 $9 325 $20 110 $25 Assume that 2017 is the base year. Find nominal GDP and real GDP for both years. (Enter your responses as whole numbers. ) Year Nominal GDP Real GDP 2017 $ $ 2019 $ $
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