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Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 3 bars and the price is 4$. In year 2, the quantity produced is 4 bars and the price is 5$. In year 3, the quantity produced is 5 bars and the price is 6$. Year 1 is the base year. What is the nominal GDP for each of these three years?

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In year 1, the quantity produced is Q1 and the price is P1. In year 2, the quantity produced is Q1 and the price is P2. In year 3, thequantity produced is Q3 and the price is P3. Year 1 is the baseyear. Answer the following questions in terms of these variables,and be sure to simplify your answer if possible.

A. What is nominal GDP for each of these years?
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