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  3. 1 consider the following table for an economy that produces...

Question: 1 consider the following table for an economy that produces...

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1. Consider the following table for an economy that produces only six goods 2016 2018 Goods PricelQuantity Price Quantity Pizza$410 S8 12 Shoe 12 20 36 15 T-Shirts 6 10 15 Bread2 Water1 Cola4 10 10 Assuming that 2016 is the base year, find the following; (Please show all calculations) (a) The values for nominal GDP for 2016 and 20118 (b) The values for real GDP for 2016 and 2018 (c) The GDP deflator for 2016 and 2018 (d) The Consumer Price Index (CPI) for 2018 (e) The inflation rate for 2018, using the CPI and the GDP deflator
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