In a simple Economy only 3 goods are produced and consumed.

In a simple economy, only three goods are produced and consumed. The CPI basket has the same 3 items as the whole economy. The following table shows output and prices for these goods in 2005 and 2015. The base year is 2005. 2005 2015 Quantity Price Quantity Price Chips 1000 $1.00 1500 $2.00 Bubble gums 20000 $1.10 30000 $2.75 Pizza 200 $5.00 500 $9.00 a) Calculate the CPI in 2015. (3 points) b) Calculate the GDP deflator in 2015. (4 points) c) Are the CPI and the GDP deflator the same in 2015? If not, why? (3 points)