Question: A simple economy produces two goods, Com Bread and Technical Manuals. Price and quantity data are as follows: Production and Prices in Year 1 (Base

A simple economy produces two goods, Com Bread and Technical Manuals. Price and quantity data are as follows: Production and Prices in Year 1 (Base year) Product Quantity Price Per Unit Corn Bread 110 $1.50 Technical Manuals 750 $45.00 Production and Prices in Year 2 Product Quantity Price Per Unit Corn Bread 137.50 $2.25 Technical Manuals 1,125.00 $90.00 In Year 2, nominal GDP is equal to: SSE, and real GDP is 25D (enter both responses rounded to the nearest penny)

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3. How much information do we need to collect?