Suppose the following data describe output in two different years:

item year 1 quantity year 1 price year 2 quantity year 2 price
oranges 15,000 $ 0.20 20,000 $ 0.25
computers 600 $750.00 700 $ 840.00
video games 8,000 $ 0.75 10,000 $ 1.00

compute nominal gdp in year 2 (enter as a numeric value e. g. 1)

$603,00

Explanation:

Nominal GDP is the addition of current year prices multipled by quantity produced.

Gross domestic product is the sum of all final goods and services produced in an economy within a given period.

Nominal GDP = ($20,000 × $ 0.25) + (700 × $ 840.00) + (10,000 $ 1.00) = $5,000 + $588,000 + $10,000 = $603,000

I hope my answer helps you

the u.s. census bureau produces data on the population and economy nationwide. it can you to analyze the kind of people living in your neighborhood. it does not show you the market of people willing to buy your product or an existing market for your product. that will require more market research. the census bureau only gives you an insight to the demographics in your area.

the answer to this question would be shared investment