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4. Use the following data to answer this question. Nominal GDP GDP deflator (trillions of $) (2005=100.0) 2008 $14.29 108.6 2010 14.50 111.0 2012 15.68

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4. Use the following data to answer this question. Nominal GDP GDP deflator (trillions of $) (2005=100.0) 2008 $14.29 108.6 2010 14.50 111.0 2012 15.68 115.4 a. Calculate real GDP in 2008, 2010, & 2012 in 2005 dollars. b. What was the percent change in real GDP between 2008 and 2010? What was the percent change between 2010 and 2012

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