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The table shows the quantities produced and prices in 2015 and 2016 for an island economy which produces only bananas and coconuts. In 2015 Item

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The table shows the quantities produced and prices in 2015 and 2016 for an island economy which produces only bananas and coconuts. In 2015 Item Quantity Price The base year is 2016. Bananas 90 bunches $7 a bunch Calculate real GDP in 2015 and 2016 using the chained-dollar method. Coconuts 54 bags $10 a bag In terms of what dollars is each of these two real GDPs measured? Real GDP in 2016 using the chained-dollar method is In 2016 $ Item Quantity Price Bananas 115 bunches $14 a bunch Coconuts 67 bags $7 a bag

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