Question: Hi, I am stuck on this portion. I know how to calculate the Nominal GDP but, I am not sure how to calculate the real

Hi, I am stuck on this portion. I know how to calculate the Nominal GDP but, I am not sure how to calculate the real GDP. I tried a few ways from what I googled but each answer has been wrong.

The following table has production and prices for Laurasia for three years: Product 2015 Output 2015 Prices 2016 Output 2017 2016 Prices Output 2017 Prices Hats 220 $ 15.00 240 $ 16.00 250 $ 12.00 Bananas 600 $ 0.50 650 $1.00 600 $ 1.50 Drills 100 $ 50.00 80 $ 60.00 90 $ 55.00 Calculate Nominal GDP for each of the following years: Instructions: Enter your answers as whole dollar amounts. a. 2015 Nominal GDP = $ 8,600 b. 2016 Nominal GDP = $ 9,290 c. 2017 Nominal GDP : $ 8,850The following table has production and prices for Pangea for three years: Product 2015 Output 2015 Prices 2016 Output 2016 Prices 2017 Output 2017 Prices Coffee mugs 900 $ 14.00 1, 000 $ 12.00 1, 200 $ 15.00 Burgers 600 $ 7.5.00 700 $9.00 800 $ 8.00 Aspirin bottles 500 $ 6.00 450 $ 8.00 400 $ 5.00 Calculate Real GDP for each year, using 2016 as the Base Year: Instructions: Enter your answer as a whole dollar amount. a. 2015 Real GDP = $ 16,708 b. 2016 Real GDP = $ c. 2017 Real GDP = $

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