The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. Indicate in each calculation whether you are inflating or deflating the nominal GDP data.   Instructions: Enter your responses in the gray-shaded cells. Round your answers to 2 decimal places.       Year Nominal GDP, Billions Price Index (2005 = 100) Real GDP, Billions Effect on Nominal GDP 1978 $2,308.80 40.4     1988 5,115.40 66.98     1998 8,808.50 85.51     2008 14,456.40 108.48     2018 20,519.30 128.59

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