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The hypothetical economy shown below produces 3 goods: Good A, Good B, and Good C. The following information shows the production and prices for three

The hypothetical economy shown below produces 3 goods: Good A, Good B, and Good C. The following information shows the production and prices for three goods over three years. Use 2021 as a base year (i.e., 2021 = 100).

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1. The hypothetical economy shown below produces 3 goods: Good A, Good B, and Good C. The following information shows the production and prices for three goods over three years. Use 2021 as a base year (i.e., 2021 = 100). Year 2020 Year 2021 Year 2022 Quantity of Good A 10 12 14 Price of Good A $0.50 $1.00 $1.50 Quantity of Good B 3 6 9 Price of Good B $1.00 $2.00 $3.00 Quantity of Good C 20 20 20 Price of Good C $0.25 $0.25 $0.25 a. Calculate the nominal GDP (or current dollar GDP) for 2022. b. Calculate the real GDP (or constant dollar GDP) for 2022. c. Calculate the real GDP for 2021. d. What is the real economic growth rate from 2021 - 20227 e. If the population of the hypothetical economy above was equal to 15 individuals, then calculate the per capita real GDP for 2022. f. What is the GDP deflator for both 2021 and 2022? g. What is the GDP deflator inflation rate for 2021-2022? h. Suppose the base year is updated to 2022. What would be the value of real GDP for 20217

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