Relationship Between Nominal GDP, Real GDP, the GDP Deflator and their Growth Rates (11 Marks) Your answers from Table 1 above produce levels of Nominal GDP, Real GDP, and the GDP Deflator. (Remember that GDP refers to Nominal GDP). This table (table 2) shows Nominal GDP, Real GDP, and the GDP Deflator for a hypothetical economy Table 2 Levels (Smillions) Growth Rate (%) GDP Real GDP GDP Deflator Nominal GDP Real GDP Rate of Inflation Year Smillions) Smillions) (Index number) Growth (%) Growth (%) (%) 2010 1,633,687.27 ,757,348.46 32.96 3.97 3.72 0.24 2011 1,794,570.84 36.12 5.59 3.4 2012 1,814,763.98 ,864,834.01 5.21 3.92 2013 1,948,648.17 100.63 3.84 3.4 2014 1,972,888.82 5.87 1.88 2015 2,173,374.83 5.35 2.04 2016 107.7 3.14 0.94 2017 2,393,760.82 111.48 5.79 2.21 3.51 2018 2,218,729.9 112.07 3.88 3.33 0.53 Use the data in this table to calculate ONLY the missing values required in Parts 1 - 11 (Note that you are not given enough data to calculate all the missing cells): Part 1: Calculate Nominal GDP for 2011 |Number Part 2: Calculate real GDP growth for 2011 |Number Part 3: Calculate the GDP Deflator for 2012 |Number Part 4: Calculate the Rate of Inflation for 2012 Number Part 5: Calculate real GDP for 2013 |Number Part 6: Calculate Nominal GDP growth for 2013 Number Part 7: Estimate the rate of inflation for 2014 Number Part 8: Estimate Real GDP growth for 2015 Number Part 9: Estimate Nominal GDP growth 2016 Number Part 10: Calculate Real GDP for 2017 Number Part 11: How much did the economy grow between 2010 and 2018? Number