21a) Calculate the Nominal GDP for 2021.21b) Calculate the Real GDP for 2021.21c Calculate the Real GDP for 2020.\f21e) Calculate GDP deflator for 2021.21f) Calculate the Inflation rate between 2020 and 2021.Consider a very simple economy which produces only ve goods and services: milk, cheese, cotton, shirts, and haircuts. 50% of the cotton is used in the production of shirts and 100% of milk is used in the production of cheese. Suppose the quantities produced and their corresponding prices for 2020 and 2021 are shown in the table and assume 2020 is the base year. All answers must be two decimals and show all formulae and workings. Haircuts