1)State whether the following is a stock or a flow and explain why:

a) Gross Domestic Product

b) National Savings

c) The value of Australia's housing on 31st January 2020

d) The amount of Australian currency in circulation as of this morning.

e) The government budget deficit.

2)Suppose a country's nominal GDP increases from $1620 billion in 2015 to $1680 billion in 2016. Was the country's economic growth 3.7%? Explain your answer.