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2 Economics Question 1 2019 2020 Suppose an economy produces P only two goods, Pizza and Cola. P Q Here are prices and quantities in

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Economics Question 1 2019 2020 Suppose an economy produces P only two goods, Pizza and Cola. P Q Here are prices and quantities in Pizza $20.00 500 $25.00 800 2019 and 2020. Fill in the table Cola (12 Pack) $16.00 1,000 $32.00 1,200 below, then answer the questions. (4 points) 2019 2020 Growth Rate Nominal GDP Real GDP at Constant 2019 Prices (i) . . . . . . . . . Real GDP at Constant 2020 Prices (ii) . . . . . . . . . Chain-weighted RGDP (iii) (2019 BY) . . . . . . . . . Chain-weighted RGDP (iv) (2020 BY) . . . . . . . . . GDP Price Deflator using (i) . . . . . . . .. GDP Price Deflator using (ii) . . . . . . GDP Price Deflator using (iii) (a) Briefly explain how and why the implied growth rate of Real GDP differs depending on the base year chosen (1 point). Provide complete

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