1. Look at the data below to answer the following questions Prices and Quantities Price of Quantity of Price of Quantity of Hot Dogs Hot Dogs Hamburgers Hamburgers Year 2008 100 150 100 2009 150 2010 200 a. Calculate the nominal GDP, real GDP & GDP Deflator for each year using 2008 as the base year b. Determine the inflation rate in 2009 and 2010. In which year, was the price level higher? .Is the growth rate of nominal GDP higher or lower than the growth rate of real GDP? Explain . d. If the total population is 40, compare the standard of living of Economia in 2009 and 2010. What happened to the standard of living of the population in Economia? [Hint: Per capita Real GDP]