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You have been given the following data on Pakistan GDP:
Nominal GDP GDP Deflator
Year (in billions of rupees) (Base Year = 2006)
2019 38,559 282
2015 27,443 245
a) Calculate the growth rate of nominal GDP between 2015 and 2019. (Hint: the average annual growth for variable X for N-years can be calculated as .
b) Calculate the growth rate of GDP deflator between 2015 and 2019.
c) Calculate real GDP in 2015 measured in 2006 prices.
d) Calculate real GDP in 2019 measured in 2006 prices.
e) Calculate growth rate of real GDP between 2015 and 2019.
f) Was the growth rate of nominal GDP greater or lesser than the growth rate of real GDP? Explain.
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