table 1: gdp country x: 2017 cars restaurant meals price $25,000 $20 quantity 10 8,000 table 2: gdp country x: 2018 cars restaurant meals price $30,000 $40 quantity 20 10,000 a. what is nominal gdp in country x in 2017? b. what is nominal gdp in country x in 2018? c. calculate the laspeyres index between 2017 and 2018? d. calculate the paasche price index between 2017 and 2018? e. calculate the fisher price index between 2017 adn 2018? f. is the passche price index likely to overstae or understate inflation? f. assuming that one uses a fisher price index to construct a gdp deflator: what is the increase in real gdp between 2017 and 2018? please expalin (extra credit) for the toolbar, press alt f10 (pc) or alt fn f10 (mac).
