Answer Questions: Part A: Nominal GDP Use the nominal GDP to answer these questions: 1. What was your state's gross domestic product for 2021? 2. Where did your state's GDP rank among all states? Which state ranked no.1? Which state was at the bottom? 3. What does, and does not this ranking tell you about your state's economy? 4. GDP can be broken down into major industries. What were the 3 largest industries in your state's GDP in 2021? Part B: Real GDP Use the nominal GDP (Current Dollars) and the real GDP (Adjusted for Ination) to answer these questions: 5. Graph your state's nominal GDP and real GDP from 2006-2021 on the same chart in Excel. What is the difference when comparing nominal GDP and real GDP? 6. Did your state's economy shrink at any time between 2006 and 2021? If yes, when? 7. Which measure nominal GDP or real GDP do you think gives a more accurate picture in your state? Why? 8. Calculate your state's growth rate from 2007 to 2021. Calculate the nation's growth rate from 2007'r to 2021. Graph the two growth rates on the same chart in Excel. Compare to the nation's growth rate to your state's growth rate. Did your state's economy grow faster or slower