3. Grs Domestic Product computation You are given die following mfonnation on tlr aononr of a hypoetical cmmy_ Use the in%nnahon to answer tlz a, b, and c. s 11829% S117S63S $1210894 51281240 307323 s 1279586 51316622 Wluch is die base yeu? W'lly? $11S290s $121317S $ 1373845 $14scgos $1829589 s 1603418 $1S2898S $ 1624608 21.360 21,644 21.940 22.571 z, 247 23.628 a. b. Calculate the follomng (Use Microsof Excel for due calculation) v. GDP Deflator Using the GDP deflator con41te due mflation rate for all years Growth rate of the standud of living Population Growth Rate Labow productlvlty growth rate 41.7 (2 marks) (10 maffs) Compare tlr grcnvth rate in population and labor producnty. Explain tlE relationship (3 marks) Uang tlr results in b, explam how Increase population raises GDP and not due tik stan&rd of Irnng_ (2 marks)