1. Below is the data of Country A Price per Quantity of Price per Quantity of computer computers cell phone cell phone 2005 100 200 80 75 2006 130 250 70 75 2007 155 350 65 125 a) Compute nominal GDP, real GDP and GDP deflator for each year using 2005 as base year. b) Compare the economic growth between the year 2006 and 2007. 2. Suppose the residence of an economy consumes the following goods which are shown in the table below: Year Rice Chicken Beef Quantit Price Quantity Price Quantity Price y (Kg) (Tk/Kg) (Kg) (TK/Kg) (Kg) (TK/Kg 2006 96 30 40 80 10 200 2007 100 35 35 120 10 220 2008 103 40 40 140 12 240 i) Compute the CPI for all three years.(2006 is the base year) ii ) Calculate the inflation rate for the year 2008 and interpret your result iii) Which one is the better measurement of cost of living between CPI and GDP deflator? Why