Suppose that there are only 2 goods in the economy (denoted by A and B). We have yearly data on prices (p) and quantities produced (q) for each good for the period 2000-2002.A. Compute the nominal GDP for each year
B. Compute, for each year in the sample, the real GDP with base-year 2000.
C. Compute the GDP deflator for each year in the sample, using 2001 as base year. Compute the corresponding inflation rate for each year.