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Refer to the table below to answer questions 1a and 1b. Year GDP (Deflator) Nominal GDP (Billion) 2007 100 189.365 2008 60 198.256 2009 89
- Refer to the table below to answer questions 1a and 1b.
Year | GDP (Deflator) | Nominal GDP (Billion) |
2007 | 100 | 189.365 |
2008 | 60 | 198.256 |
2009 | 89 | 220.987 |
2010 | 95 | 240.534 |
2011 | 105 | 300.989 |
If 2007 is the base year, calculate:
- The real GDP for 2007, 2008, 2009 and 2010.
- The annual growth of real GDP for the years 2008, 2009 and 2010.
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