Consider a small economy producing five goods. Note that only half on the bread is used in burger production and leather is totally used in boots production. 1. Calculate nominal

and real GDP of the economy in 2017 and 2018 Answer the following questions: 2. Calculate the real GDP growth rate in 2018. Interpret. 3. Calculate GDP Deflator in 2017 and 2018. 4. Calculate inflation rate in 2018.