Suppose that in 2015 total output in a single-product economy for country Y was 9 million...

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Suppose that in 2015 total output in a single-product economy for country Y was 9 million bales of sugar priced at $25 per bale. Also suppose that in 2016 the price per bale of sugar was $35 and that 15 million bales of sugar were purchased. (i) Using 2015 as base year, determine the implicit real GDP price deflators for the two years. [3 If the population of country Y above was 12.5 million in 2015 and 15.4 million in 2016, what was the per capita real GDP growth rate by 2016 and why is this determination important? Suppose that in 2015 total output in a single-product economy for country Y was 9 million bales of sugar priced at $25 per bale. Also suppose that in 2016 the price per bale of sugar was $35 and that 15 million bales of sugar were purchased. (i) Using 2015 as base year, determine the implicit real GDP price deflators for the two years. [3 If the population of country Y above was 12.5 million in 2015 and 15.4 million in 2016, what was the per capita real GDP growth rate by 2016 and why is this determination important?