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Below are nominal GDP and GDP deflators for four years. Year Nominal GDP (in billions) GDP Deflator Year 1 $18,000 100 Year 2 $ 18,540

Below are nominal GDP and GDP deflators for four years.

Year

Nominal GDP (in billions) GDP Deflator

Year 1

$18,000 100

Year 2 $ 18,540 103

Year 3 $19,467 104

Year 4 $20,246 106

Calculate real GDP in each year.

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