For the next nine questions, use the data in the following tables for an economy that produces only two things, bread and computers. Assume that all production is consumed in each year:
Year 1
Good Quantity Price
Bread 30 $10
Computers 10 $50
Year 2
Good Quantity Price
Bread 40 $15
Computers 15 $60
1. Using the chain weighted method, and selecting year 1 as a base, what is real GDP in year 2?
2. Using the chain weighted method, and selecting year 2 as a base, what is real GDP in year 2?
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