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Suppose the following table records the total output and

Suppose the following table records the total output and prices for an entire economy. Further suppose the base year in the following table is 2013.

Year Price of Soft Drink Quantity of Soft Drink Price of Jeans Q of Jeans

2013 $1.25 275 $50 110

2014 $1.25 325 $60 140

Was the increase in nominal GDP from 2013 to 2014 mostly due to an increase in real output or due to an increase in prices? Support with a calculation

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Business Economics: Suppose the following table records the total output and

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Business Economics: Suppose the following table records the total output and

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