ezto.mheducation.com + M Question 1 - Ch. 4B Homework (for marks) - Connect bradleycoronian@yahoo.com - Yahoo Mail *Homework Help - Q&A from Online Tutors - Course Hero Ch. 48 Homework (for marks) i Saved Help Save & Exit Submit Check my work Study Problem 4-12 (algo) 10 points The economy of Sumer produces only three products: rice, pajamas, and beer. The base year is 2018. The quantities and prices of these products in 2018 and 2019 are shown in the table below. 2018 2019 Quantity Price Nominal GDP Quantity Price Nominal GDP Price Real GDP Rice 490 eBook $5 $ 570 $5. 7 $ $5 $ Pajamas 130 16 150 14 16 Beer 80 22 85 25 22 Total a. Complete the table above. Calculate the nominal and real GDPs for the two years and enter the values in the table below. 2018 2019 Nominal GDP $ Real GDP $ b. The value of the GDP deflator for 2019 is ] . Answer to one decimal place. c. Supposing the average inhabitant of Sumer consumes 20 units each of beer and rice and 4 units of pajamas each year, complete the following table. Item Quantity 2018 Price 2018 Basket cost 2019 Price 2019 Basket cost Rice Pajamas Beer Total d. The value of the CPI for 2019 is ]. Answer to one decimal place. Mc Graw Prev 1 of 6 Next >