ECON 105 D100 Principles of Macroeconomics Spring 2021 Assignment 04 Due by Friday, February 26, 11:59 PM (Vancouver Time). Late submission . less than 24 hrs late = 2 points deducted . 24 48 hrs late = 4 points deducted more than 48 hrs late = 0 points awarded Let us say we have a record of consumption and prices in a (very) small closed (no trade) economy: 2009 2010 2011 Goods/Services Quantity Price Quantity Price Quantity Price Play-Doh 80 boxes $8.99/box 88 boxes $8.99/box 91 boxes $9.99/box Towels 75 $8.25 each 85 $8.50 each 80 $8.90 each Haircuts 47 $18.50 each |43 $21.50 each 42 $27.50 each Hats 21 $14.99 each | 25 $14.99 each | 35 $15.99 each nominal GDP real GDP GDP Deflator GDP Deflator- based inflation rate (% from the preceding year "P CPI-based inflation rate (% from the preceding year) Notice that everything produced is consumption goods and services. Take 2009 as a base year. Round all the answers to 2 decimals. 1. Calculate the nominal GDP in each year (fill the cells in the table). (1) 2. Calculate the real GDP in each year (fill the cells in the table). (1) Calculate the GDP Deflator for each year (fill the cells in the table). (1) 4 . Calculate the GDP Deflator-based inflation rate in 2010 & in 2011 (fill the cells in the table). (1) Calculate the CPI for each year (fill the cells in the table). (1)