Question

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 question

Answer 1

	Telsa			GM			BMW
	Price($)	Quatity	Yearly total Value( in million $) = P*Q	Price($)	Quatity	Yearly total Value( in million $) = P*Q	Price($)	Quatity	Yearly total Value( in million $) = P*Q	Nominal GDP(in million $)
2011	3	40	120	2	200	400	4	12	48	568
2012	4	40	160	3.75	200	750	6	12	72	982
2013	4.50	50	225	4	210	840	7	13	91	1156
2014	5	65	325	2.50	300	750	7	17	119	1194
2015	5	70	350	2.50	375	937.50	7	20	140	1427.50

NGDP Growth rate from 2011 to 2012 = [(982 - 568) / 568] * 100 = 72.89%

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 = [(1427.50 - 1194) / 1194] * 100 = 19.56%