A simple economy produces two goods, Bread and Technical Manuals. Price and quantity data are as follows:Production and Prices in Year 1 (Base year) Product Quantity Price Per UnitBread 120 $3.00Technical Manuals 800 $50.00Production and Prices in Year 2Product Quantity Price Per UnitBread 150 $4.50Technical Manuals 1,200 $100.00In Year 2, nominal GDP is equal to: _, and real GDP is _ (enter both responses rounded to the nearest penny).
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