Hello, I'm struggling at trying to find the yearly economic grow.

MATH Level: EADLINES at are your Academic Goals? CIAA) C: Nominal GDP versus Real GDP Nominal GDP is the value of final output produced in a given period, measured in the prices of that peri Real GDP is the value of final output produced in a given period, adjusted for changing prices. Therefore, the distinction between nominal and real GDP is important whenever the price level changes, which it often does every year. What is the formula for calculating RGDP? Real GDP converts nominal GDP to base year dollars (recall that the price index in the base year is always 100). The price index we will use is called the GDP deflator which is a price index that accounts for what households, businesses, government, and the foreign sector spends (recall that the CPI is just based on what consumers spend but GDP deals with a larger subset of the economy so we will use the GDP Deflator). Real GDP = Nominal GDP x 100 GDP Deflator 1. For each respective year show your work in calculating RGDP. Nominal GDP and Real GDP are measured in billions of dollars. Calculate the yearly economic growth rate from each respective year. Hint: a growth rate is (New - Old)/Old. Year Nominal GDP GDP Calculate the Yearly Economic Growth Rate to the nearest RGDP B) Deflator hundredth of a % from (use RGDP): 2007 $14,715.1 93.33 $15,767.15 05 2008 $14,608.2 95.07 $15,366.61 07 to 08: 2009 $14,651.3 95.27 $15,379.16 08 to 09: 2010 $15,309.5 96.85 $15,808.00 09 to 10: 2011 $15,842.3 98.71 $16,048.70 2012 $16,420.4 100.74 $16,300.04 2016 $18,968.0 106.49 $17,812.56 2017 $19,883.0 108.67 $18,296.69 16 to 17: 2018 $20,813.3 111.18 $18,721.28 17 to 18: 2019 $21,694.5 112.98 $19,202.31 18 to 19