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Below are the characteristics of the country of Econ: Year 2018: Homes Price: $200,000 Homes Purchased: 1,000 Car Price: $25,000 Cars Purchased: 1,000 Milk Price

Below are the characteristics of the country of Econ:

Year 2018:

Homes Price: $200,000

Homes Purchased: 1,000

Car Price: $25,000

Cars Purchased: 1,000

Milk Price per Gallon: $2.25

Gallons Purchased: 100,000

Year 2019:

Homes Price: $350,000

Homes Purchased: 1,500

Car Price: $45,000

Cars Purchased: 1,250

Milk Price per Gallon: $3.75

Gallons Purchased: 150,000

Using 2018 as the base year, compute the following:

i. Nominal GDP for 2018 and 2019

ii. Real GDP for 2019

iii. GDP Deflator

iiii. CPI

iiiii. Percent growth of GDP & CPI

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