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The instructions for each question is below 1- The country of Batavia produces only chocolates and watches. Below is a table with recent information on

The instructions for each question is below

1-

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The country of Batavia produces only chocolates and watches. Below is a table with recent information on Batavia production and prices. The base year is 2009. Prices and Quantities Year Price of A Box of Boxes of Chocolates Chocolates Price of Watches. Quantity of Watches 2008$4 100 $50 10 2009$5 90 $50 15 2010$5 100 $60 15 2011 $6 80 $65 12 1. What was nominal GDP, real GDP, and the GDP deflator for 2008? Show your work 2. What was nominal GDP, real GDP, and the GDP deflator for 2011? Show your work.Suppose the residents of Mediaville spend all of their income on books, CDs, and DVDs. In 2009, they buy 400 books for $3,200, 200 CDs for $1,400, and 100 DVDs for $900. In 2010, they buy 360 books for $3,240, 250 CDs for $1,500, and 125 DVDs for $1,250. Assume that the market basket for the CPI is defined in the base year. 1. What are the prices of books, CDs, and DVDs in 2009? 2. What are the prices of books, CDs, and DVDs in 2010

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