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1- The following data show nominal GDP and the appropriate price index for several years....

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1- The following data show nominal GDP and the appropriate price index for several years. Compute real GDP for each year and indicate whether you have "inflated" or "deflated" nominal GDP in finding real GDP. All GDP are in billions. Nominal Price Inflated (1) Year GDP level Real Deflated index GDP (D) 1 $117 120 124 104 3 3 143 85 149 96 5 178 112 6 220 143

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