The nation of Potchatoonie produces hockey pucks, cases of root beer, and sandals. The following table provides data on prices and quantities of the three goods in years 2011 and 2014. Instructions: Enter your responses as whole numbers. Pucks pucks root beer root beer sandals sandals Year Quantity Price Quantity Price Quantity Price 2011 100 $5 300 $15 100 $20 2014 125 $7 250 $20 110 $25 Assume that 2011 is the base year. Find nominal GDP and real GDP for both years. Year Nominal GDP Real GDP 2011 $ $ 2014 $ $
The nation of Potchatoonie produces hockey pucks, cases of root beer, and sandals. The following table provides data on prices and quantities of the three goods in years 2011 and 2014. Instructions: Enter your responses as whole numbers. Pucks pucks root beer root beer sandals sandals Year Quantity Price Quantity Price Quantity Price 2011 100 $5 300 $15 100 $20 2014 125 $7 250 $20 110 $25 Assume that 2011 is the base year. Find nominal GDP and real GDP for both years. Year Nominal GDP Real GDP 2011 $ $ 2014 $ $
Chapter3: Market Demand And Supply
Section3.7: A Market Supply And Demand Analysis
Problem 1YTE
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The nation of Potchatoonie produces hockey pucks, cases of root beer, and sandals. The following table provides data on prices and quantities of the three goods in years 2011 and 2014.
Instructions: Enter your responses as whole numbers.
| Pucks | pucks | root beer | root beer | sandals | sandals | |
| Year | Quantity | Price | Quantity | Price | Quantity | Price |
| 2011 | 100 | $5 | 300 | $15 | 100 | $20 |
| 2014 | 125 | $7 | 250 | $20 | 110 | $25 |
Assume that 2011 is the base year. Find nominal GDP and real GDP for both years.
| Year | Nominal GDP | Real GDP |
| 2011 | $ | $ |
| 2014 | $ | $ |
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