AI-generated, not reviewedSL/HL4 marks, command term Calculate
The figures are invented. A country's nominal GDP is $500 billion in year 1 and $546 billion in year 2. The GDP deflator is 100 in year 1 and 104 in year 2. (i) Calculate real GDP in year 2. [2] (ii) Calculate the rate of economic growth between year 1 and year 2. [2]
Paper 2-style short part (standalone practice; not an IB question).