Plese type instead of hand-writing

Assume an economy in which only broccoli and cauliflower are produced. In year 1, 500 mil- lion pounds of broccoli are produced and con- sumed and its price is $0.50 per pound, while 300 million pounds of cauliflower are produced and consumed and its price is $0.80 per pound. In year 2, 4-00 million pounds of broccoli are pro- duced and consumed and its price is $0.60 per pound, while 350 million pounds of cauliower are produced and its price is $0.85 per pound. (a) Using year 1 as the base year, calculate the GDP price deflator in years 1 and 2, and calculate the rate of inflation between years 1 and 2 from the GDP price deator. (b) Using year I as the base year, calculate the CPI in years 1 and 2, and calculate the CPI rate of ination. Explain any differences in your results between parts (a) and (b). 6. Consider an economy with a corn pro- ducer, some consumers, and a government. In a given year, the corn producer grows 30 millionbushels of corn and the market price for corn is $5 per bushel. Of the 30 million bushels pro- duced, 20 million are sold to consumers, 5 mil- lion are stored in inventory, and 5 million are sold to the government to feed the army. The corn producer pays $60 million in vvages to con- sumers and $20 million in taxes to the govem- ment. Consumers pay $10 million in taxes to the government, receive $10 million in interest on the government debt, and receive $5 million in Social Security payments from the government. The prots of the corn producer are distributed to consumers. (a) Calculate GDP using (i) the product ap- proach, (ii) the expenditure approach, and (iii) the income approach. (b) Calculate private disposable income, private sector saving, government saving, national saving, and the government decit. Is the government budget in decit or surplus