1. a) (Table: Market Basket of Lunch Items) The table shows the prices of four common Lunch Items in 2021 and 2022 and the quantities of these goods sold in 2021, the base year. Calculate the inflation rate from year 2021 to 2022 for these lunch items. (2 points) Table: Market Basket of Lunch Items Good Prices in 2021 (Base Quantity Bought Prices in Year (2021 2022 Cheese Curds $9 3.000 $10 Soup $6 2,000 $7 Salad $11 1,000 $14 Sandwiches $10 2,00 $11 Water $1 5,000 $1 (Hint: First calculate the cost of basket of lunch items in 2021 and 2022. Then calculate the price index and then calculate the inflation rate). b) (Table: Dexter's Employment Statistics) Use these data to complete the following computations. (2 points) Table: Dexter's Employment Statistics Demographic Group Number of Residents Full-time employed 8,000 Part-time employed 2,000 Unemployed and looking for work 1200 Not working due to disability 400 Not working due to retirement 1100 Unemployed and not looking for work due to 800 discouragement over job prospects Under the age of 16 3,000 Total Population 16,500 - Calculate the labor force participation rate and the unemployment rate? c) Use Table below: Rangamati is a small nation that produces only four goods: bread, jelly, cheese, and egg. The table below shows production and prices of these goods for two last two years. (3 points) Product 2021 Output 2021 Prices 2022 Output 2022 Prices (base year) Bread 2,000 units $4 per unit 2,200 $6 per unit Jelly 1,000 units $5 per unit 1,100 $6 per unit Cheese 500 units $3 per unit 500 $4 per unit Egg 10,000 $0.2 per unit 9,000 $0.4 per unit - Calculate the growth rate in Nominal GDP and Real GDP from year 2021 to 2022