The following data show nominal GDP and the appropriate price index for several years. Compute real GDP for each year and indicate whether you have "inflated" or "deflated" nominal GDP in finding real GDP. All GDP are in billions. Nominal Price level Inflated (I) Year GDP $117 index 120 Real GDP Deflated (D) 1 2 124 104 3 143 85 4 149 96 5 178 112 220 143 1. Suppose an economy's real GDP is $50,000 in year 2017 and $55,000 in year 2018. What is the growth rate of its GDP? 2. For the same economy, assume that population was 100 million in year 2017 and 105 million in year 218. What is the growth rate in real GDP per capita?