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1. Assume that Bangladesh produces three goods only; rice, tomato and oil. Market prices and total production for the three consecutive years are given below: year Market price (per Rice ( kg) Tomato ( kg) Oil (liter) unit) rice tomato oil 2007 45 30 105 50 25 80 2008 55 40 120 65 30 85 2009 70 65 170 60 24 93 Base year=2007 a) Calculate nominal GDP, real GDP and GDP deflator for the years 2007, 2008 and 2009. b) Can you tell in which year the economy is better off? 2008 or 2009? Why? c) Calculate economic growth in 2008 and in 2009