1. Consider the following data from the land of apple juice and eggs. Year Price of Apple Juice Quantity of Apple Juice Price of Eggs Quantity of Eggs 2013 IN 100 50 2014 200 100 2015 200 2 100 a. Calculate the CPI for each year, using 2014 as the base year. Calculate the inflation rate between 2013 and 2014 using the CPI. Calculate the inflation rate between 2014 and 2015 using the CPI. 2. Suppose an economy that consumes bagel, cake, and donut only. The following table shows the quantities consumed and prices for five years. Bagel Cake Donut Price Quantity Price Quantity Price Quantity 2015 10,000 10 500 2,000 2016 400 IN W N N 1 1,000 11 2,000 2017 10,50 500 2,500 2018 10.000 550 3,500 2019 9,000 650 5,000 If the first letter of your last name is between A to H, then use 2019 as base year. If the first letter of your last name is between I to P, then use 2018 as base year. If the first letter of your last name is between Q to Z, then use 2017 as base year. a. Calculate the GDP Deflator for 2015 and 2016. Calculate the inflation rate between 2015 and 2016 using the GDP Deflator. 3. Consider the community of Town ABC. There are one thousand individuals who live in this small town. 150 individuals younger than 16 years old 70 individuals are fully retired O 45 of which are 65 years old o The remaining are younger than 65 years old and are retiring early 165 individuals who are currently not working, are able to work o Of which 95 are actively seeking for employment o The remaining have given up looking for employment 1 10 individuals are full time college students D 35 of which are working less than 20 hours per week O The remaining are currently seeking employment 210 individuals are working part time but would like to work full time 20 individuals are in the military and are considered to be not in the working age population The rest of the population in Town ABC are able and are currently working Construct a population tree and accurately fill in the above information for each component. Determine the number of employed individuals. Calculate the labour force participation rate. Calculate the employment to population ratio. e . Calculate the involuntary part time rate