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Suppose there are three goods in an economy, namely pencils, mobile phones and capital goods for production

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Suppose there are three goods in an economy, namely pencils, mobile phones and capital goods for production. In both Year 1 and Year 2, the production of goods and services in this economy consists of 300 pencils, 200 mobile phones and 100 units of capital goods used for production. Answer the following questions. Please show all the steps you use to arrive at your answers. Pencils Mobile phones Capital goods for production $10 $150 $210 Year 1 price Year 2 price $12 $140 $200 i Find the nominal GDP for the current year and base year. (5 marks) ii What is the percentage increase in the CPI? (5 marks) iii What is the percentage increase in the GDP deflator?