Question: Given the following data, for EACH YEAR, show all your calculations for a. the Nominal GDP b. the Real GDP (use Year 1 as

Given the following data, for EACH YEAR, show all your calculations for a. the Nominal GDP b. the Real GDP

Given the following data, for EACH YEAR, show all your calculations for a. the Nominal GDP b. the Real GDP (use Year 1 as base year) c. the Consumer Price Index (use Year 1 as base year) d. the rate of inflation from Year 1 to Year 2 and from Year 2 to Year 3. YEAR QUANTITY pizza PRICE pizza QUANTITY burgers PRICE burgers 1 $2 $5 $3 $8 $4 $10 2 3 100 150 200 50 100 125

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