+6Correctly state, set up and apply real GDP equation/formula.

1) Macroeconomic Measurements Table 1 Year 1910 Year 1920 Year 1930 Year 1940 Year 1950 Vulcan Nominal GDP 738.46 936.74 1139.35 1222.21 1377.14 ($ millions) Vulcan GDP deflator 75.980 83.310 91.725 101.996 115.534 (Base year 1935) Given the information about the Vulcan economy in Table 1 (Show all work in context): a) Calculate the Real GDP for each year. (30 pts) 1. Year 1910 2. Year 1920 3. Year 1930 4. Year 1940 5. Year 1950 b) Using results from part a), find the Real GDP growth rate (%) for each stated time interval (30 pts) 1. Year 1910 to Year 1920 2. Year 1920 to Year 1930 3. Year 1930 to Year 1940 4. Year 1940 to Year 1950 5. Year 1910 to Year 1950