Question: 1) Use the table below to answer the following questions. Show your calculation details. (Round your results to two decimal places.) Base Year (2009) 2020
1) Use the table below to answer the following questions. Show your calculation details. (Round your results to two decimal places.) Base Year (2009) 2020 2021 Product Quantity Price Quantity Price Quantity Price Shoes 90 $55.00 95 $60.00 100 $65.00 Hamburgers 80 $2.50 90 $3.50 100 $4.50 Shirts 50 $30.00 55 $25.00 60 $40.00 a. Calculate nominal GDP for 2020 and 2021. b. Calculate real GDP for 2020 and 2021. c. Calculate the inflation rate from 2020 to 2021 as measured by the GDP deflator
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