Problem
The following table shows GDP data of a hypothetical economy that produces only two items: maple syrup and trips to a local touristic attraction.
Year Price of Maple Syrup Price of Trips Quantity of Maple Syrup Number of Trips
2007 11 250 300 425
2008 13 258 310 570
2009 12 260 324 550
2010 14 262 410 580
Calculate nominal GDP, real GDP, and GDP deflator for each row.