Consider an economy that produces only chocolate bars ,In year 1,the quantity produced is 3bars and the price is $4. In year 2,the quantity produced is 4bars and the price is $5.

In year 3,the quantity produced is 5bars and the price is$6. Year 1is the base year .

a.What is nominal GDP for each of these three years ?

b.What is real GDP for each of these years?

c.What is the GDP deflator for each of these years ?

d.What is the percentage growth rate of real GDP from year 2to year 3?

e.What is the inflation rate as measured by the GDP deflator from year 2 to year 3?