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The economy of Turista produces only two products, protein bars and snowboards. In 2016 it produced...

The economy of Turista produces only two products, protein bars and snowboards. In 2016 it produced 18 million protein bars and 101,000 snow boards. In 2017, production of protein bars rose to 20 million, and snowboards to 107,000.


a. If the price of protein bars rose from $1.60 to $2.00 over this period, while the price of snowboards rose from $200 to $230, fill in the table below. Round your answers to two decimal places.

2016 2017
Quantity Price ($) Nominal GDP ($) Quantity Price ($) Nominal GDP ($) Real GDP ($)
Protein bars million million million million million
Snowboards million million million


b. What is the value of nominal GDP for Turista in 2016, and, what are the values of its nominal and real GDP in 2017?

    The value of nominal GDP in 2016 is $  million.

    The value of nominal GDP in 2017 is $  million and real GDP in 2017 is $  million.

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