5. Assume that the nominal GDP is $70 billion and the GDP deflator is 140. Calculate the real GDP. Show your work. 70/140 *100= 50 Billion Part 2: Practice- Use the GDP data provided to answer the questions. Year Population GDP Deflator Nominal GDP 2019 180 100 $8,000 2020 200 120 $12,000 2021 300 - $15,000 6. Calculate the real GDP in Year 2020. Show your work. 7. Calculate the GDP deflator in Year 2021 if the real GDP is $12,000. Show your work