Table 1: Quantity Produced and Price of Good Year 2000 Year 2010 Price of an automobile Quantity of automobile produced 100 Price of a loaf of bread Quantity of breads produced |550,000 |S60,000 120 $20 $10 |400,000 Suppose an economy produces and consumes only bread and automobiles. The table above includes data for two different years. Using the year 2000 as the base year, compute the following statistics for each year: nominal GDP, real GDP, GDP price deflator, and the CPI. |500,000

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