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Table 12-21 \quad \quad \quad

Question 217

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Table 12-21
\quad \quad \quad \quad \quad \quad \quad 20132013 \quad \quad \quad \quad \quad \quad \quad \quad 2017 2017 \quad \quad \quad \quad \quad \quad \quad 2018 2018
 Product  Quantity  Price  Quantity  Price  Quantity  Price  MP3s 40$250.0045$200.0050$150.00 Tacos 2,0002.002,2002.252,3002.40 Coats 30050.0031052.0035055.00\begin{array}{|l|r|l|r|r|r|r|}\hline \text { Product } & \text { Quantity } & \text { Price } & \text { Quantity } & \text { Price } & \text { Quantity } & \text { Price } \\\hline \text { MP3s } & 40 & \$ 250.00 & 45 & \$ 200.00 & 50 & \$ 150.00 \\\hline \text { Tacos } & 2,000 & 2.00 & 2,200 & 2.25 & 2,300 & 2.40 \\\hline \text { Coats } & 300 & 50.00 & 310 & 52.00 & 350 & 55.00 \\\hline\end{array}
-Refer to Table 12-21.Consider the data above for a simple economy: Using 2013 as the base year,calculate nominal GDP,real GDP,and the GDP deflator for 2018.Show your work.

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Nominal GDP for 2018 equals (5...

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