Suppose a simple economy produces five goods: books, bagels, coffee beans, coffee, and military drones (given the strict laws on the island, military drones are only available for purchase by the government).Assume all the coffee beans are used to make coffee (therefore coffee beans are an intermediate good). Additionally, the economy consumes and imports clothes from a foreign country (HINT: Clothes would be both a consumption good and an import, so should it count in final GDP?).The production numbers for the domestic goods and foreign goods are below:

	Year 2018	Year 2019
	Quantity	Price	Quantity	Price
Books	20	$30	25	$40
Bagels	120	$2.00	145	$3.00
Military Drones	90	$200.00	100	$210.00
Coffee	225	$2.00	250	$2.00
Coffee Beans	200	$0.60	220	$0.70
Clothes	100	$25	110	$26

1. Using 2018 as the base year, calculate fixed-weight real GDP in 2018. Don't forget to put a $ in the units box.

2. Using 2018 as the base year, calculate fixed-weight real GDP in 2019. Don't forget to put a $ in the units box.

3. Using 2018 as the base year, calculate the growth rate of output between year 2018 and 2019. [Round two decimal places. If your answer is 10.356, round to 10.36%. Put % in the units box]

4. Using 2019 as the base year, calculate fixed-weight real GDP in 2018. Don't forget to put the $ in the units box

5. Using 2019 as the base year, calculate fixed-weight real GDP in 2019. Don't forget to put the $ in the units box

6. Using 2019 as the base year, calculate the growth rate of output between year 2018 and 2019. [Round two decimal places. If your answer is 10.256 round to 10.26%. Don't forget to put the % in the units box]

7. Calculate the chain-weighted growth rate of output. [Round two decimal places. If your answer is 10.256 round to 10.26%. Don't forget to put the % in the units box]

8.

Using the chain-weighted growth rate and the rule of 70, how long before chain-weighted real GDP doubles. [Round two decimal places. Don't forget to put the "years" in the units box]

9. Using 2018 as the base year, calculate the chain-weighted real GDP in 2018. [Round two decimal places. Don't forget to put the $

10. Using 2018 as the base year, calculate the chain-weighted real GDP in 2019. [Round two decimal places. Don't forget to put the $ in the units box]

11. Using 2019 as the base year, calculate the chain-weighted real GDP in 2018. [Round two decimal places. Don't forget to put the $ in the units box]

12. Using 2019 as the base year, calculate the chain-weighted real GDP in 2019. [Round two decimal places. Don't forget to put the $ in the units box]

13. Using 2018 as the base year, calculate the GDP Deflator in 2018. [Round two decimal places]

14. Using 2018 as the base year, calculate the GDP Deflator in 2019. [Round two decimal places]

15. Using 2018 as the base year, calculate the inflation rate using the GDP deflators. [Round two decimal places. Don't forget to put a % in the units box]

16.