Using your completed Nom vs. Real GDP Template and the Nominal vs. Real GDP Template-Samples file posted to Canvas, answer the questions below. The answers to many of these questions are in the Nominal vs. Real GDP PPT and the Nominal GDP versus Real GDP Tutorial posted to the Instructional Materials page in Canvas. Use these resources to answer these questions. 4. Examine the data in Panel A of your Nominal vs. Real GDP Template. Is nominal GDP larger or smaller than real GDP? Explain why. Be specific. (Note that the base year for Real GDP is 2012.) 5. Open the "Nominal vs. Real GDP Template - Samples" posted to Canvas and click on the tab for 2021. Note in Panel A that nominal GDP is larger than real GDP. Explain why nominal GDP is larger than real GDP in 2022. 6. Fill in the middle rows of the table below with data from Panel B of your Nominal vs. Real GDP Template. 1967 to 1968 1968 to 1969 2020 to 2021 2021 to 2022 % Change in Nominal GDP- 9.4- 8.2 10.7 9.2 % Change in GDP % Change in Real Price Index GDP 4.9 3.1 43+ 4.9 4.5 7 5.9 2.1 i. State the two reasons that nominal GDP increased (or decreased) between each pair of years. Be specific. ii. Using addition, show how the two reasons listed in 6i contribute to the percentage change in nominal GDP in your birth year. Explain your answer. iii. Using the data in the table above, compare the percentage rates of change in nominal GDP, real GDP, and the GDP Price Index over these three time periods. Note changes in the magnitudes of each. Are there periods when prices grew more rapidly? Are there periods where real output grew more rapidly? Note how these affect the percentage change in nominal GDP. Make specific observations based on the information in the table. This answer should be a substantial paragraph.