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Can I get an answer with an explanation? 1. (10 points) Using the information in the table below (where 2019 is the base year). 2019

Can I get an answer with an explanation?

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1. (10 points) Using the information in the table below (where 2019 is the base year). 2019 Price Quantity 2020 Price Quantity Apple $8 20 Apple $14 20 Oranges $4 10 Oranges $4 20 a) Compute real GDP in the base and later years (in base-year prices - 2019) b) Compute the GDP deflator in the later year (2020) c) Compute a fixed-weight price index for the later year (2020), using the base-year (2019) quantities as weights. d) Using your answers for a) and b), calculate the growth rate of real GDP and the rate of inflation

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