use the following data. It will be repeated for your convenience each time. The following is production data: Year Waffles Waffles Orange Juice Orange Juice Toaster Ovens Toaster Ovens (Quantity) (Price) (Quantity) (Price) (Quantity) (Price) 2010 2000 $1.20 40 $3 280 $22 2011 2200 $1.30 41 $4 300 $25 2012 2500 $1.40 42 $5 300 $28 The above, is production data. Consumption data is as follows: the average citizen consumes 150 waffles, 4 units of orange juice and 10 toaster ovens. 2010 is the base year for all calculations. 1. Carefully following all directions for entering your answer, tell me the 2012 CPI value for this economy. 2. Carefully following all directions for entering your answer, calculate real GDP for 2011 for this economy. 3. Carefully following all directions for entering your answer, calculate the inflation rate, using the CPI, for 2011-2012. Express your answer "as a percent, but without the percentage sign." In other words, if your answer is 99.99 percent (0.9999 in decimal format), enter only 99.99 in the blank. Make sure to round all intermediate steps to four decimal places and your final answer to two. In this case, the final step will be conversion into percent. 4 Carefully following all directions for entering your answer, calculate the GDP deflator for 2012 for this economy