Table 20.4.4 Quantities 2013 2014 Bananas 1,000 bunches 1,100 bunches Coconuts 500 bunches 525 bunches Prices. 2013
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Table 20.4.4
Quantities 2013 2014
Bananas 1,000 bunches 1,100 bunches
Coconuts 500 bunches 525 bunches
Prices. 2013 2014
Bananas. $2 a bunch $3 a bunch
Coconuts. $10 a bunch. $8 a bunch
Refer to Table above. The table provides data on the economy of Tropical Republic that produces only bananas and coconuts.
a) Calculate the Nominal GDP in 2013.
b) Calculate the Real GDP in 2014.
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