2. Consider the hypothetical economy that produces only three goods; Good A, Good B and Good C. The table below shows the price per unit (in dollars) of each good and the quantity produced of each good in each of three years. Let 2012 be the base year. Good A Good B Good C Price Quantity Price Quantity Price Quantity 2012 10 8000 20 15,000 5 24,000 2013 12 10,000 24 20,000 10 25,000 2014 15 10,000 30 18,000 12 28,000 a. Compute nominal GDP for 2012, 2013 and 2014. b. Compute real GDP for 2012, 2013 and 2014, using 2012 as your base year. c. Compute the percentage growth in nominal GDP from 2012 to 2013, and from 2013 to 2014. d. Now compute the percentage growth in real GDP from 2012 to 2013 and from 2013 to 2014. Compare these results to those in part (c). What accounts for the difference? e. Compute the GDP deflator price index for 2012, 2013 and 2014. f. Using the GDP deflator price indices from part (e), compute the annual rate of inflation for the year 2013. Now compute it for the year 2014.