To analyze the data provided for the land of milk and honey, we will compute nominal GDP, real GDP, and the GDP deflator for each year, using 2012 as the base year.
### a. Compute Nominal GDP, Real GDP, and the GDP Deflator
**Nominal GDP** is calculated using current prices.
**Real GDP** is calculated using base year prices.
**GDP Deflator** is calculated as (Nominal GDP / Real GDP) x 100.
#### Details for each year:
**Base Year Prices


