What is the value of rgdp in year two


Problem

Suppose an economy produces apples and cloth. In year 1, the price of apples was $1 and 100 units were sold. In year 1, the price of cloth was .50 and 200 units were sold. In year 2, the price of apples increased to $3 and 300 units were sold.

In year 2, the price of cloth rose to .75 and 300 units were sold. What is the value of GDP in year 2?

What is the value of RGDP in year 2?

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Macroeconomics: What is the value of rgdp in year two
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