The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. Indicate in each calculation whether you are inflating or deflating the nominal GDP data. Instructions: Enter your responses in the gray-shaded cells. Round your answers to 2 decimal places. X Answer is complete but not entirely correct. Nominal GDP, Effect on Nominal Year Price Index Billions (2005 = 100) Real GDP, Billions GDP 1978 2,293.80 40.40 5,679.73 X increase / inflating 1988 5, 100.40 66.98 7,615.80 X increase / inflating 1998 8,793.50 85.51 10,280.38 X increase / inflating 2008 14,441.40 108.48 13,324.06 X decrease / deflating 2018 20,501.00 128.59 15,927.30 X decrease / deflating