Option 2 t ever For all scenarios below, show your work to justify your responses where calculation is required. say Nominal GDP is $5 trillion and real GDP is $4 trillion. Calculate the GDP deflator. d blow Real GDP is $500 billion, and the GDP deflator is 125. Calculate the nominal GDP. Nominal GDP is $4.4 trillion, and the GDP deflator is 110. Calculate the real GDP. Based on the following table, which year had a higher real GDP? Year Nominal GDP Deflator 1980 $6.3 trillion 90 1990 $8 trillion 125