Problem 1. CPI, GDP, and Unemployment (20 points). Year P Qx Py Qy 2016 5 102 6 43 2017 8 1109 50 2018 9 130 9 60 1. (10 points) Consider an economy with only 2 goods being produced and consumed: goods X and Y. The evolution of this economy's prices and quantities is reported in the table above. Using this information answer the following questions. (a) Compute nominal GDP for years 2016 to 2018. Show your reasoning. (b) Compute real GDP for years 2016 to 2018. Take 2016 as the base year. Show your reasoning (c) Compute the GDP deflator for years 2016 to 2018. Show your reasoning (d) Compute inflation for years 2017 and 2018 using the GDP Deflator. Show your reasoning