Table 12-21 -Refer to Table 12-21

Essay

Table 12-21
$$\begin{array} {c} \quad \quad \quad \quad \quad \quad2011 \quad \quad \quad \quad 2013\\\begin{array} { | l | c | c | c | c | } \hline { \text { Product } } & \text { Quantity } & \text { Price } & \text { Quantity } & \text { Price } \\\hline \text { Hats } & 200 & \$ 20 & 250 & \$ 21 \\\hline \text { French fries } & 2,000 & 1 & 2,300 & 2 \\\hline \text { Digital cameras } & 40 & 200 & 50 & 140 \\\hline\end{array}\end{array}$$
-Refer to Table 12-21.Consider the following data for a simple economy: Calculate nominal GDP and real GDP for 2013,using 2011 as the base year.Show your work.