Consider in a given economy: For a given time period the following information indicated numbers of goods and services needed (Items) Unit Price for these items for selected time are shown in the table below. Assume base year is 1981: calculate CPI for 1971, 1981, 1992 and 2012, Make sure show all your calculations Consider the following information, Use the CPI from part one, and assume base is 1992. Complete the table Calculate percentage change of Nominal GDP from 1971 to 2012. Calculate percentage change of Real GDP from 19711 to 2012. Explain the difference between nominal percentage change and real percentage change. Solution CPI=current year expenditure * 100/base year expenditure.