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sir I'm not good at English, so please write well. thanks! (In order to receive full credits, please show all of your work and justify

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sir I'm not good at English, so please write well. thanks!

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(In order to receive full credits, please show all of your work and justify your answer) 1. (20 pts.) Consider an economy that produces and consumes two products: computers and smartphones. The following table contains data for two different years: Year Year Good 2010 2020 Quantity Price Quantity Price Smartphones 300,000 $300 450,000 $500 Computers 80,000 $1200 70,000 $1400 (a) (10 pts.) Using the year 2010 as the base year, compute the following statistics for each year: nominal GDP, real GDP, the implicit price deflator for GDP, and a fixed-weight price index such as the CPI.(b) (8 pts.) How much have prices risen between 2010 and 2020? Compare the answers given by the GDP deflator and the CPI. (c) (2 pts.) Explain the differences between the CPI Index and the GDP Deflator. Which do you believe is a better measure of actual inflation? Why

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