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Question 2 Suppose the information in the table is for a simple economy that produces and consumes only four goods and services: textbooks, hamburgers, shirts and cotton. 2011 2012 2013 Product Quantity Price Quantity Price Quantity Price Textbooks 90 $50 100 $60 100 $65 Hamburgers 75 NU 100 2 120 2.25 Shirts 50 30 50 25 65 25 Cotton 100 0.80 800 0.60 120 0.70 . Calculate the nominal GDP for 2011. . Calculate the nominal GDP for 2012. . Calculate the nominal GDP for 2013. . Calculate the real GDP for 2011. . Calculate the real GDP for 2012. . Calculate the real GDP for 2013. . Calculate the growth rate in real GDP for 2012. (using 1 decimal place % . Calculate the growth rate in real GDP for 2013. (using 1 decimal place . Calculate the cost of the market basket for 2011 (using 1 decimal place).. Calculate the growth rate in real GDP for 2012. (using 1 decimal place % . Calculate the growth rate in real GDP for 2013. (using 1 decimal place % . Calculate the cost of the market basket for 2011 (using 1 decimal place). . Calculate the cost of the market basket for 2012 (using 1 decimal place). . Calculate the cost of the market basket for 2013 (using 1 decimal place). . Calculate the CPI for 2012 (using 1 decimal place). . Calculate the CPI for 2013 (using 1 decimal place). . Calculate the inflation rate for 2012 using the CPI (using 1 decimal place). . Calculate the inflation rate for 2013 using the CPI (using 1 decimal place). . Calculate the GDP deflator for 2012. . Calculate the GDP deflator for 2013 (using 1 decimal place). % . Calculate the inflation rate for 2012 using the GDP deflator (using 1 decimal place). % . Calculate the inflation rate for 2013 using the GDP deflator (using 1 decimal place)