Problem A (12 points) This problem involves some GDP calculations for the small and fictional country of Derpvania. Derpvania has a closed economy (no international trade, NX = 0). See the tables below for the numbers on what was spent on certain goods. For real GDP calculations, assume the base year is 2012. 2012 Quantity Burgers 7,000 Price ($) 4.20 Hoodies 350 75 Cars 25 22,000 Do not turn in this list of instructions for your submission. Just print the "Turn in sheet" front/back to turn in with your work and answers. You can use this instruction list as a practice attempt at your homework. Find Derpvania's nominal 2012 GDP. Show work. (1 point) Assuming the base year is 2012, what is Derpvania's real GDP in 2012? (1 point) What is the GDP deflator in the year 2012? (1 point) Do not turn in this list of instructions for your submission. Just print the "Turn in sheet" front/back to turn in with your work and answers. You can use this instruction list as a practice attempt at your homework. Problem A (continued) 2025 Quantity Price ($) 2026 Quantity Price ($) Burgers Hoodies 7,300 5.50 7,400 5.80 400 90 420 94 Cars 30 25,000 32 25,700 Find Derpvania's nominal 2025 GDP. Show work. (1 point) Find nominal 2026 GDP. Show work. (1 point) Do not turn in this list of instructions for your submission. Just print the "Turn in sheet" front/back to turn in with your work and answers. You can use this instruction list as a practice attempt at your homework. Find real GDP in 2025 using 2012 as the base year. Show work. (2 points) Find the GDP deflator in 2025 assuming 2012 is the base year. Show work. (1 point) Find real GDP in 2026 using 2012 as the base year. Show work. (2 points) Find the GDP deflator in 2026 assuming 2012 is the base year. Show work. (1 point) Using the GDP deflators, find the percentage rise in the price level in this fictional economy from the years 2025 to 2026. Show work. (1 point) Problem B (8 points) Consider the following items. Assume that all of the situations occurred this year in the United States. For each, do the following: Is this counted in GDP? Yes or No? For clarity, assume we're using the expenditure approach to calculate, C+ 1+ G + NX. o If Yes, what component of GDP does it belong to (C, I, G, or NX) o If no, why specifically is it not counted in GDP? (1 point each) Mick's Fabric Shop makes a blanket, and it is bought by a resident of Spain and shipped overseas Finn buys bread at a grocery store Ahmed is a federal employee and receives a paycheck from the government Jaime grows tomatoes in her own garden, and cooks them in her kitchen for meals Bernie receives a $1,250 social security payment from the government Kenny spends $1,750,000 to build a new house Yang buys a house that was built in 2015 Toyota builds a new factory and assembly line to make electric vehicles. Do not turn in this list of instructions for your submission. Just print the "Turn in sheet" front/back to turn in with your work and answers. You can use this instruction list as a practice attempt at your homework.