If real GDP of 2017 is less than nominal GDP of 2017, then we know that for certain that the price level in 2017 was greater than prices level in the base year. price level in 2017 was less than prices level in the base year. O price level in 2017 and price level in the base year are equal O none of the above Question 8 Answer question question 8 and 9 using the table below: (rounded off). I will repeat in both question. 2010 2011 Nominal GDP $555 million ? Real GDP $480 million $575 million GDP Deflator ? 160 How much is the GDP Deflator for 2010? 86.5 115.6 O 135.1 156.3 Referring to the table: 2010 2011 Nominal GDP $555 million ? Real GDP $480 million $575 million GDP Deflator ? 160 How much is the Nominal GDP for 2011? $456 million $546 million $805 million $920 million D Question 10 Nominal GDP is calculated using prices set in the base year average prices of all products current prices is usually lower than base year prices