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4 . Problems and Applications Q7 Consider the following data on U.S. GDP: Nominal GDP GDP Deflator Year (Billions of dollars) (Base year 2009) 2016 18,707 105.93 1996 8,073 73.18 The growth rate of nominal GDP between 1996 and 2016 was 131.7% , and the growth rate of the GDP deflator between 1996 and 2016 was 44.8% (Hint: The growth rate of a variable X over an N-year period is calculated as 100 X Xfinal Xinitial Measured in 2009 prices, real GDP was V billion in 1996 and billion in 2016. (Note: Select the answers closest to the values you compute.) The growth rate of real GDP between 1996 and 2016 was The growth rate of nominal GDP between 1996 and 2016 was than the growth rate of real GDP