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economics question Question2: (8 marks) (a] Calculate the real GDP for all years from 2004 to 2008, using the fol- lowing information. Write your answers

economics question

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Question2: (8 marks) (a] Calculate the real GDP for all years from 2004 to 2008, using the fol- lowing information. Write your answers in the Real GDP column: Year Nominal GDP GDP Deflator Real GDP 2004 $720 billion 100 2005 $750 billion 102 2006 $80O billion 110 2007 $900 billion 114 2008 $960 billion 120 (b) What was the real economic growth rate in 2008 compared to 2007

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