Question: Can you please explain letters 3 e & f and 4 a & b- I don't understand. 3. (50 points) Prime Minister Osiris gives you

3. (50 points) Prime Minister Osiris gives you The following table, which

Can you please explain letters 3 e & f and 4 a & b- I don't understand.

shows the quantity (in millions) of each good sold as well as

the price (in the Chirpistani currency, the "Cate- Coin" C). Tabl 1:

Chirpistan's Economy Good Kong Toys Chirp Noodles Insulin (Osiris is diabetic) Syringes

for Insulin Shots Shock Collars Scratching Posts Laser Pointers 2016 2016 Price

3. (50 points) Prime Minister Osiris gives you The following table, which shows the quantity (in millions) of each good sold as well as the price (in the Chirpistani currency, the "Cate- Coin" C). Tabl 1: Chirpistan's Economy Good Kong Toys Chirp Noodles Insulin (Osiris is diabetic) Syringes for Insulin Shots Shock Collars Scratching Posts Laser Pointers 2016 2016 Price Quantit 2017 2017 Price Quantity 3 6 5 15 7 10 15 50 80 10 12 11 66 10 3 4 4 13 9 9 17 51 80 12 19 10 66 2018 Price 25 11 13 18 21 16 17 2018 Quantity 22 57 89 31 17 10 60 .01(c- (a) (10 points) Calculate nominal GDP for 2016 and 2017. (b) (10 points) Using 2016 prices, what is Chirpistan's real GDP in 2017? (c) (10 points) Prime Minister Osiris is worried that inflation might be a problem in Chirpistan. Using the GDP deflator, was there hyperinflation in 2017? ND war

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