4. Suppose an economy is producing three goods - coffee (C), apple pastries (A), and bagels (B). The following table represents production (Q) and prices (P) over a three-year period. PC QC PA QA PB QB 2016 5.50 1,250 3.45 980 1.95 1,800 2017 5.62 1,375 3.75 1,025 2.05 1,740 2018 5.65 1,340 4.15 1,115 2.08 1,865 A. Using the year 2016 as the base year, calculate nominal and real 2017 and 2018. B. Calculate the growth rates between 2017 and 2018 for nominal GDP and real GDP. C. Which growth rate (nominal or real) would best measure an increase in the standard of living in the economy? Why? D. What is the GDP Deflator? What does it measure? Calculate the GDP Deflator for 2017 and 2018