8. The GDP deflator in year 2 is 110 and the GDP deflator in year 3 is 118. Calculate the rate of inflation between years 2 and 3. 9. Refer to Table below. Given the following information, calculate the rate of increase in the price level from 2015 to 2016. Use the percent change in the GDP deflator. 2015 2016 Nominal GDP $10,000 $15,000 Real GDP 9,500 10,500 10. List some limitations of GDP as a measurement of social welfare