# Suppose there are five goods in the economy, A-E. The year one quantity of each is 10A, 20B, 30C, 40D, and 50E.

Suppose there are five goods in the economy, A-E. The year one quantity of each is 10A, 20B, 30C, 40D, and 50E. year one prices are \$1 for each unit of A, \$2 for each unit of B, \$3 for each unit of C, \$4 for each unit of D, and \$5 for each unit of E.The year two quantity of each is 9A, 18B, 27C, 36D, and 45E. year two prices are \$2 for each unit of A, \$3 for each unit of B, \$4 for each unit of C, \$5 for each unit of D, and \$6 for each unit of E.Year number one is the Base-year

Nominal GDP in year one equals _________ and in year two equals_________.

Real GDP in year one equals ____________ and in year two equals_________.

(Make sure you show your calculation and round up to the nearest hundredth)

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