Question 2 (12 points/20) Bill Clinton was president from 2001 to 2008. At the beginning of 2001, the Nominal GDP was $6.54t (\"t\" stands for trillion). At the end of 2008, the Nominal GDP was $10.28t. This question has three parts. Part A: By what percent did the Nominal GDP grow during Clinton's Presidency? Type your answer and calculations here: Part B: How much ination was there during Clinton's Presidency? Please give a specic percent and Show how you got it. Type your answer and calculations here: Part C: How much (i.e. by what percent) did the 1M GDP grow during Clinton's Presidency? Please show your work step-by-step. Type your answer and calculations here: Page 2 Please note: because this is an on-line test, the main emphasis is on your understanding of the problem and your ability to explain your answer. A correct answer without a full and clear explanation will earn you only partial credit. Consumer Price Index from 1983 to 2020 CH CH CF! 1 983 100.0 1996 156.9 2009 214.5 1 984 103.9 1997 160.5 2010 218.1 1985 107.6 1998 163.0 201 1 224.9 1986 109.6 1999 166.6 2012 229.6 1987 1 13.6 2000 172.2 2013 233.0 1988 118.3 2001 177.1 2014 237.0 1989 124.0 2002 179.9 2015 238.1 1990 130.7 2003 184.0 2016 243.0 1991 136.2 2004 188.9 2017 247.9 1 992 140.3 2005 195.3 2018 252.7 1 993 144.5 2006 201 .6 2019 258.8 1 994 148.2 2007 207.3 2020 260.0 1 995 152.4 2008 215.3 Question 1: (8 points/20) For a certain family of four, a week's supply of food cost $300.00 in 1999. Assuming that the cost of food grew at the average US. ination rate, how much would the same food cost in 2019'? Type your answer and calculations here