Can you answer these questions?

1) What is the difference between Nominal GDP and Real GDP? Which is more important in terms of satisfying human wants? Why? 2) After a careful reading of the chapter, use what you need from the list below to compute GDP from the Expenditures approach. Personal Consumption expenditures......$850 Transfer payments... $15 Consumption of fixed capital.. ..... .$35 Interest.. $11 Exports..... $16 Government purchases.. ..... $115 se Compensation of employees. $225 Imports. $20 Net private domestic investment....... $75