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  3. consider an economy where only three types of vehicles are...

Question: consider an economy where only three types of vehicles are...

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Consider an economy where only three types of vehicles are produced and sold, namely: Tesla, GM and BMW. The following table shows the quantity sold (in millions) and the price per unit of each vehicle: 2011 2012 40 $4 200 2013 50 $4.50 210 $4 13 $7 2014 Tesla GM BMW Quantity produced and sold 40 Price per unit Quantity produced and sold200 Price per unit Quantity produced and sold12 Price per unit $3 $2$3.75 S4 65 $5 300 2015 70 $5 375 $2.50$2.50 17 $7 20 $7 $6 Copy and paste the above table in excel to conduct the computations for each question Present your results clearly in a table as they apply to each questionc) Compute the GDP deflator for each year. What is the yearly change (in percentage terms) in the overall price level relative to the base y ear?Telsa GM BMW Yearly total Valuel Price(S) Quatityi Price(S) Quatity million Yearly total Valuel Yearly total aue GDP(in Nominal Price(S) Quatity in million million million 20113 2012 4 2013 4.50 20145 2015 5 120 160 225 325 2.50300 750 350 2.50 200 400 3.75200 750 210 840 12 12 13 17 20 568 982 1156 1194 4 50 65 70 48 72 91 119 140 1427.50 4 375 937.50 NGDP Growth rate from 2011 to 2012-[(982-568) / 568] * 100-72.8996 NGDP Growth rate from 2012 to 2013-[(1155-982) / 982] * 100-17.72% NGDP Growth rate from 2013 to 2014-[(1194-1156) / 1156] * 100-3.29% NGDP Growth rate from 2014 to 2015-[(142750-1194) / 1194] * 100-19.56%

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