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.   Year Nominal GDP, Billions Price Index (2005=100) Real GDP, Billions 1968 $909.8 22.01   1978 $2,293.8 40.40   1988 $5,100.4 66.98   1998 $8,793.5 85.51   2008 $14,441.4 108.48

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