1. Suppose that the economy of Fruitopia produces two goods, apples and oranges, according to the following table: Quantity produced (in millions of bushels): Apples 30 Oranges 18 2020 2021 33 21 The prices of apples and oranges per bushel in Fruitopia are: Prices (in dollars per bushel): Apples 2 Oranges 4 2020 2021 3 a. Calculate nominal GDP in 2020 and 2021. b. Calculate real GDP in 2020 and 2021, with 2020 as the base year. c. Find the percentage growth of both nominal and real GDP from 2020 to 2021.

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