Question 1 (20 points) - Topic 1 The following table provides the economic data for an economy. Year 2018 2019 2020 Price Quantity Price Quantity Price Quantity Good 1 30 120 34 100 36 110 Good 2 10 150 14 180 12 180 Good 3 50 60 58 40 60 50 Good 4 12 200 14 240 13 150 Good 5 20 80 24 100 24 90 Good 6 8 300 6 360 7 380 Here is some additional information about this economy that holds true for all 3 years unless otherwise stated: . Unless otherwise stated, the goods are produced within the economy. . Good 1 is a pure consumption good and 40% are purchased from abroad. Good 2 is equally split between households, domestic and foreign firms, and government. Firms purchase half of good 3 while the government consumes 30% of the good. The remainder is bought by foreign households. Of the good 3 purchased by local firms, one-fifth is purchased from abroad. Both households and government purchase good 4, in which households buy four-fifths of that good. In addition, half of the good 4 consumed by households is produced outside the country. All of good 5 is bought by domestic sectors: 40% goes to domestic consumers while the remainder is equally split between firms and the public sector. The share of good 6 among households, firms and government are 30%, 30% and 40% respectively. However, the country does not produce a single unit of the good. The government has chosen 2018 as the base year. Based on the information given, complete the following table. 2018 2019 2020 (Nominal) Consumption (Nominal) Investment (Nominal) Government spending (Nominal (Nominal) Imports Nominal GDP Real GDP GDP deflator CPI Inflation rate (using GDP deflator) Not applicable Inflation rate (using CPI) Not applicable