2. Comparing output over time (30 points). Feel free to use Excel for this portion. Either way, submit your work. The da

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2 Comparing Output Over Time 30 Points Feel Free To Use Excel For This Portion Either Way Submit Your Work The Da 1 (231.92 KiB) Viewed 15 times

2. Comparing output over time (30 points). Feel free to use Excel for this portion. Either way, submit your work. The data below is for prices and output in a 2-good artificial economy for the years 2010- 2012. The goods are labeled 1 and 2. t 2010 2011 2012 P₁,t 1 2 3 Q1,t 100 101 102 P2,t 10 11 12 Q2,t 2 3 4 a. For each year, calculate nominal GDP (Y), real GDP using the previous year as the base year (Yt (t − 1)), and real GDP using the next year as the base year (Yt(t + 1)). b. For each year, calculate the growth rates of real output using the Laspeyres (gy,t), Paashe (grt), and Fisher indexes (gr,t). c. For each year, calculate the inflation using the Laspeyres (†), Paashe (πt), and Fisher indexes (Ã¥¸t).