The table below contains data for the country of Batterland, which produces only Local bread and pancakes.  The base year is 2013. Year Price of   Local bread   Quantity of  Local bread Price of pancakes   Quantity of pancakes   2013   9 60     5 170 2014   10 70    6.5 170 2015   11 80     8 250           -    Compute:     -  Nominal GDP.                         -  Real GDP.                         - GDP deflator.                        -  Inflation rate in 2015.

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- The table below contains data for the country of Batterland, which produces only Local bread and pancakes.  The base year is 2013.

Year

Price of   Local bread

 

Quantity of  Local bread

Price of pancakes

 

Quantity of pancakes

 

2013

  9

60

    5

170

2014

  10

70

   6.5

170

2015

  11

80

    8

250

 

 

 

 

 

 

Compute:     -  Nominal GDP.

                        -  Real GDP.

                        - GDP deflator.

                       -  Inflation rate in 2015.

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