Assume an Economy Produces Only Footballs and Baseballs and the Base

Multiple Choice

Assume an economy produces only footballs and baseballs and the base year is 2005. $\begin{array}{llcll} & {\text { Quantities Produced }} & &{\text { Prices }} \\\text { Footballs } & 200 & 300 & \$ 20 & \$ \$ 25 \\\text { Baseballs } & 500 & 600 & \$ 10 & \$ 15\end{array}$
Given the data in the table above, what is the value of nominal GDP in 2006?

A) $10,000
B) $12,000
C) $12,500
D) $16,500