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4) Consider the following data on US GDP: Year Nominal GDP (billions) GDP Deflator (base year: 2000) 2008 $12,488 119 2007 $11,055 115.5 a. What was the growth rate of nominal GDP between 2007 and 2008? b. What was the growth rate of the GDP deflator
3) Identify the immediate effect of each of the following circumstances on U.A.E GDP and its components. a. Farid buys an Italian sports car. b. Aziz buys domestically produced tools for his construction company

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