A simple economy produces two goods Bread and Software Price and quantity data are as follows Production and Prices in Year 1

Question

A simple economy produces two goods Bread and Software Price and quantity data are as follows Production and Prices in Year 1 Base year Quantity 105 650 In Year 2 nominal GDP is equal to and real GDP is Product Bread Software Product Bread Software Price Per Unit Production and Prices in Year 2 Quantity 131 25 975 00 1 50 55 00 Price Per Unit 2 25 110 00 enter both responses rounded to the nearest penny

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