1. Suppose that Republic of Economists produces three goods:; books, magazines and papers. The following table provides information about the prices and output for these three goods for the years...

Extracted text: 1. Suppose that Republic of Economists produces three goods:; books, magazines and papers. The following table provides information about the prices and output for these three goods for the years 2013, 2014 and 2015. Price per Quantity Price per magazine Quantity of Price per magazines Quantity of papers book of books рарer 2013 S100 10 S50 100 S10 200 2014 $100 2015 12 S52 108 $10 205 S110 12 S54 115 $10 212 a. Using the provided information. calculate the nominal GDP for each year BWhat is the percentage change in nominal GDP from 2013 to 20142 Provide any formulas you use and show your work in caleulating this answer c. What was the percentage change in nominal GDP from 2014 to 2015? d. Using 2013 as the base year, calculate the real GDP for each year e. What was the percentage change in real GDP from 2013 to 2014? £. What was the percentage change in real GDP from 2014 to 20152 g. Using 2013 as the base year, calculate the GDP deflator for each year (GDP deflator measured on a 100- point scale with 2013 as the base year)