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X Unit 2 A2: GDP and Types of Goo x + //hccc.instructure.com/courses/19765/assignments/229754 Assignment 2 1. Intermediate goods - for example, the memory chips in your computer or phone - are products that companies pay money for in order to incorporate them into the final goods for retail sales. Why are intermediate goods, such as these, not counted when we are calculating GDP? Explain why counting them would be problematic and deceptive. 2. Assume the economy only produces the four goods listed below, and that all the wool is used in the production of line hats. Calculate real GDP for 2017 and 2018, using 2012 as the base year. What was the growth rate (%) in real GDP between 2017 and 2018? (Show all calculations and explain your answers.) 2012 2017 2018 Quantity Price Quantity Price Quantity Price Slippers 90 $50.00 100 $60.00 100 $65.00 Tacos 75 $2.00 100 $2.00 120 $2.25 Hats 50 $30.00 50 $25.00 65 $25.00 Wool 100 $0.80 800 $0.60 120 $0.70 3. Calculate the GDP deflator for each year below. Which year from 2015 to 2018 saw the largest inc deflator over the prior year in percentage terms? (Show your work and explain you to search