1. An economy produces only three products: A, B and C. They are all final goods. The prices and quantities for the years 2018, 2019 and 2020 are given below. Prices 2018 2019 Quantities 2019 2020 2018 2020 $4 $5 11 A B $5 $3 $7 $10 $9 $11 $10 6 7 10 4 12 14 6 12 Using above information answer the following questions. Show all calculations using the Excel template. 1. (a) Using your answers to 1 (a) and (f) above, directly calculate the chain linked GDP deflators for 2018 and 2019, when 2018 is the base year. Calculate the resulting inflation rate. (b) Using 2018 as the base year, calculate the Laspeyres price index for 2018 and 2019. Calculate the inflation rate between 2018 and 2019. (c) Using 2018 as the base year, calculate the Paasche price index for 2018 and 2019. Calculate the inflation rate between 2018 and 2019. (d) Using the Geometric Mean method and above answers, calculate the GDP price index for 2018 and 2019 and also the inflation rate between 2018 and 2019. Use 2018 as the base year. 1. An economy produces only three products: A, B and C. They are all final goods. The prices and quantities for the years 2018, 2019 and 2020 are given below. Prices 2018 2019 Quantities 2019 2020 2018 2020 $4 $5 11 A B $5 $3 $7 $10 $9 $11 $10 6 7 10 4 12 14 6 12 Using above information answer the following questions. Show all calculations using the Excel template. 1. (a) Using your answers to 1 (a) and (f) above, directly calculate the chain linked GDP deflators for 2018 and 2019, when 2018 is the base year. Calculate the resulting inflation rate. (b) Using 2018 as the base year, calculate the Laspeyres price index for 2018 and 2019. Calculate the inflation rate between 2018 and 2019. (c) Using 2018 as the base year, calculate the Paasche price index for 2018 and 2019. Calculate the inflation rate between 2018 and 2019. (d) Using the Geometric Mean method and above answers, calculate the GDP price index for 2018 and 2019 and also the inflation rate between 2018 and 2019. Use 2018 as the base year