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Please solve Question two Consider an economy that produces only four types of fruit: apples, oranges, pineapples and bananas. In the base year (201D, the

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Question two Consider an economy that produces only four types of fruit: apples, oranges, pineapples and bananas. In the base year (201D, the production and price data were as follows: Fruit Quantity Price Apples 3,000 bags $2 per bag Bananas 6,000 bunches $3 per bunch Pineapples 4,000 $1.5 per Oranges 8,000 bags $4 per bag In the current year (2020), the production and price data are as follows: Fruit Quantity Price Apples 4,000 bags $3 per bag Bananas 14,000 bunches $2 per bunch Pineapples 7,500 $2 per Oranges 32,000 bags $5 per bag (a) CaICulate the nominal GDP in the current year and in the base year. What is the percentage increase since the base year? (b) CaICulate the real GDP in the current year and in the base year. By What percentage does real GDP increase from the base year to the current year? (c) Find the GDP deator for the current year and the base year. By what percentage does the price level change from the base year to the current year

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