Illustrate what was the growth rate of the gdp deflator

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Reference no: EM1352707

Consider the following data on US GDP.

Year Nominal GDP(billions), GDPDeflator(base year:2000)

2008 $12488119

2007 $11055115.5

a) What was the growth rate of nominal GDP between 2007 and 2008?

b) Illustrate what was the growth rate of the GDP deflator between 2007 and 2008?

c) What was real GDP in 2007 measured in 2000 prices?

Reference no: EM1352707

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