1. What is the GDP deflator and how is it constructed? Use nominal GDP (GDP) and real GDP (GDPC1) to construct a graph of the GDP deflator from 1947-present (use LINE 1 only). Now check your work by adding LINE 2 with the GDP deflator variable (GDPDEF) for the same time period. If you constructed the GDP deflator properly, the two lines should be identical. [INSERT FIGURE HERE]