Part A

Suppose that country X has current GDP of $7250 billion.The current GDP deflator is 120.In the base year, the nominal GDP for country X was also $7250 billion.

• What is country current X's real GDP in base year prices?
• What is the rate of economic growth between the base year and the current year?

Part B

Let us imagine that there is a country which displays the following statistics.C (Consumption) is one-half of GDP, and I (Investment) is one-sixth of GDP.G (Government expenditure) is $2000 larger than investment.The country has a trade deficit of $700.What is the country's GDP?