(b) Differentiate between Gross Domestic Product (GDP) and Real Gross Domestic Product (RGDP ). (6 marks ) Suppose the nominal Gross Domestic Product (GDP) and price index for Country B in 2020 and 2021 are as follows : Nominamnmm mime-n (a) Based on the above information, compute the economic growth rate of Country B. (4 marks ) (b) Discuss whether a growth in real GDP or nominal GDP would be more accurate to reect the changes in the productive capabilities of an economy . (7 marks ) The table below shows the national income accounting data for a country in the year 2016 : Items Consumption expenditures Government expenditures on goods and services Gross private domestic investment Capital consumpdon allowance Indirect business taxes Exports Imports Income earned from the rest of the world Income earned by the rest of the world Using the expenditure approach , calculate the following values : (i) Gross Domestic Product {GDP ); [5 marks ) (ii) Gross National Product (GNP ); (4 marks ) (iii) National Income (NI). [4 marks ) (iv) Real GDP if the price index is 120 [3 marks ) (v) GDP per capita if population is 0.2 billion (3 marks ) With the aid of a diagram, briefly describe the FIVE (5} phases of the business cycle