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Directions: (50 points) Each of these questions relates to material discussed in class or the reading. Answer each question completely, show your work, and turn in the assignment at the start of class stapled together, with your name and section on it. 1. (15 points) GDP and Economic Growth Suppose nominal GDP in 2020 was $180,000,000 and in 2021 b7 was $185,000,000. The GDP price index in 2020 was 150 and in 2021 it was 152. The population in 2020 was 2,580 and in 2021 it was 2,650. a. Calculate Real GDP and Real GDP per capita in each year. b. Calculate the growth rates of Nominal GDP, Real GDP, and Real GDP per capita. (Hint: a growth rate is a percentage change.) c. In afew sentences, describe why the growth rates are so different