Need part e and f .thank you 1. Suppose the US can produce only three goods: hamburgers (a non- durable good), hairdryers (a durablegood) and haircuts (a service). The prices and quantities produced for 2018, 2019 and 2020 are listedbelow.P2018Q2018P2019Q2019P2020Q2020Hamburgers $2.50100$3.0025$3.25150Hairdryers$10.50200$11.75250$15.75200haircuts$11150$12150$14195Suppose that all goods are sold.a. Using 2020 as the base year, calculate the real GDP for 2018, 2019 and 2020.b. How fast did the real GDP grow between 2018 and 2019?c. How fast did the real GDP grow between 2019 and 2020?d. Using 2020 as the base year, calculate the real GDP deflator for 2018, 2019 and 2020.Now, suppose that some goods are not sold.e. Calculate the new real GDP for 2018 (2019 base year) if only 150 hairdryers are sold.f. Calculate the new real GDP 2018 (2019base year) if only 90 hamburgers are sold (hairdryers are back at 200).

Real GDP measures the money value of all final goods and services produced in an economy adjusted…

Answered: Now, suppose that some goods are not…

Brief Principles of Macroeconomics (MindTap Course List)

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ISBN:9781337091985

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Chapter7: Production And Growth

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Now, suppose that some goods are not sold. e. Calculate the new real GDP for 2018 (2019 base year) if only 150 hairdryers are sold. f. Calculate the new real GDP 2018 (2019base year) if only 90 hamburgers are sold (hairdryers are back at 200).