4. Real - Vs. - Nominal GDP The economy of country X produces three goods: computers, DVDs, and pizza. The accompanying table shows the prices and output of the three goods for the years 1, 2, and 3. YEAR 1 2 3 Price Quantity Price Quantity Price Quantity Computers $900 10 $1,000 10.5 $1,050 12 DVDs $10 100 $12 105 $14 110 Pizza $15 2 $16 2 $17 3 Total Nominal GDP Total Real GDP a. Calculate Nominal GDP in country X for each of the three years. (4 points) (4 points] b. Calculate Real GDP in country X using year las the base year, for each of the three years. c. What is the percent change in production of total goods between year 1 and year 3? (4 points) d. Calculate GDP deflator for years 2 and 3, then use the GDP deflators to calculate inflation rate between year 2 and 3. (4 points)