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The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use the information to answer the questions that follow. Goodland

The table below is extracted from Goodland Republic Bureau of Statistics records for

2016 -2017. Use the information to answer the questions that follow.

Goodland Economy 2013 and 2018

Examine the status of the economic welfare in Goodland Republic in 2018 based on

your GDP deflator, nominal GDP and Real GDP. Also, explain the reasons why it is

necessary to calculate real GDP. Show your work.

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