What has been the percentage change in nominal GDP between 2018 and 2019?

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Suppose that a very simple economy produces three goods: pasta, tomatoes and cheese. Suppose the quantities produced and their corresponding prices for 2018 and 2019 are shown in the following table: 2018 2019 Product Quantity Price Quantity Price Pasta 40 $3.00 45 $4.00 Tomatoes 100 $6.00 80 $8.00 Cheese 50 $12.00 60 $10.00 a. What is nominal GDP in 2018? (1 mark) b. What is nominal GDP in 2019? (1 mark) c. What is real GDP in 2018, using 2019 as the base year? (1 mark) d. What has been the percentage change in nominal GDP between 2018 and 2019? (1 mark) e. What has been the percentage change in real GDP between 2018 and 2019, using 2019 as the base year? (1 mark)

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