Final answer:
The growth rate of real GDP from 2009 to 2010 cannot be calculated with provided data, which is the nominal GDP for 2010 only. Real GDP for both years or the GDP deflator is needed for such a calculation.
Step-by-step explanation:
The growth rate of real GDP cannot be determined with the information given because we would need the real GDP for both 2009 and 2010, not just the nominal GDP for 2010. In order to calculate the real GDP growth rate, we must have real GDP values for the years in question, or the GDP deflator to convert nominal GDP to real GDP. The nominal GDP for 2010 alone does not provide enough data to calculate the real GDP growth rate from 2009 to 2010.
Understanding the difference between nominal and real GDP is crucial. Nominal GDP represents the market value of all final goods and services produced in a country in a given year, valued at current prices, while real GDP accounts for inflation and shows the value of all goods and services at constant prices. The GDP deflator is a tool that can convert nominal GDP into real GDP, thus giving a more accurate picture of economic growth by accounting for the effects of inflation.
To calculate the growth rate of real GDP, we need to compare the real GDP values for two different periods. In this case, we are given the nominal GDP for 2010 but not the real GDP. Therefore, the growth rate of real GDP is unknown based on the given information.