Sir. please solve my question

Assignment on Principles of Economics Final Fall.docx (Protected View) - Word Sign in X File Home Insert Design Layout References Mailings Review View Help Tell me what you want to do Share PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing X 1. A consumer's basket of goods for a hypothetical economy includes 7 Pizzas, 9 Pepsis and 10 Hamburgers. Use the Table below to answer the following questions. Take 2016 as the base year. Year Price of Price of Price of Pizza(Tk.) Pepsi(Tk.) Hamburger(Tk. 2015 130 70 110 2016 135 85 120 2017 140 95 140 (a) Calculate the cost of the Consumer's basket for each of the years given. (b) Calculate the CPI for each of the years given. (c) From the CPI, calculate the inflation rate for the year 2016and 2017. (d) Which one is a better measure of inflation, CPI or GDP deflator? Explain. 2. Suppose in a hypothetical economy, three goods are produced: Mango, Banana and Chicken. The quantity of output and prices of mango, banana and chicken are given in the following Table. Output Price, Tk/Unit 2014 2015 2016 2014 |2015 2016 Mango 50 55 65 35 40 45 Banana 60 65 75 6 7 8 Chicken 31 35 40 110 125 150 (a) Define nominal and real GDP. Calculate the nominal GDP for the year 2014, 2015 and 2016. Suppose, 2016 is the base year, and then calculate the real GDP for the year 2014, 2015 and 2016. Define growth rate. Calculate the growth rate of real GDP for the year 2015 and 2016. (b) Define GDP deflator. What does it measure? According to the GDP deflator, how much prices have increased for the year 2015 and 2016. Page 1 of 3 300 words - + 130% Type here to search O 9 1:09 AM 12/13/2020