Question 3 Goods Production Price Year 1 Year 2 Year 3 Year 1 Year 2 Year 3 Good X 50 75 100 $1.00 $1.00 $1.20 Good Y 100 100 130 $0.60 $0.75 $1.00 Exhibit 2 Assume that an economy only produces good X and good Y as shown in Exhibitl. Based on Exhibit 2, a) calculate nominal GDP for year 2 and year 3. b) calculate real GDP for year 2 and year 3. (using year 1 as base year). c) calculate GDP deflator for year 2 and year 3