1. A hypothetical economy produces only two items: maple syrup and trips to a local tourist attraction. Calculate nominal GDP, real GDP, the GDP deflator, the CPI (Use year 2's quantity as the fixed CPI basket), and inflation rates and fill in the corresponding columns in the following table: Year 1 is the base year [12 points]

Year	Price of Maple Syrup	Quantity of Maple Syrup	Price of Trips	Number of Trips	Nominal GDP	Real GDP	GDP Deflator	CPI	Inflation rate using the CPI	Inflation rate using the GDP Deflator
1	$10	300	$250	425					n/a	n/a
2	$15	310	$255	570
3	$12	325	$260	550
4	$14	410	$265	580

1. Suppose consumptionC= 60 + 0.50 (YD),Government PurchasesG= 40, ExportX= 10, inflation rate is4.4%.The net tax rate,t = 0.35.The marginal propensity to import,m = 0.4.What level ofInvestmentis needed to achieve a target equilibrium income of 400? [3 points]