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Year Nominal GDP Real GDP Price Deflator 2019 167,400 125.68 2020 231,000 ? 130.56 2021 255,750 190,250 ? Answer the following questions based on the

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Year Nominal GDP Real GDP Price Deflator 2019 167,400 125.68 2020 231,000 ? 130.56 2021 255,750 190,250 ? Answer the following questions based on the table above showing gross domestic product and the price level in the Spring City economy. The price deflator is an index that equals 100 in the base year. a. (1 point) What was nominal GDP in 2019? b. (1 point) What was real GDP in 2020? c. (1 point) What was the price deflator in 2021? d. (2 points) What was the growth rate (i.e., the percent change) of nominal GDP from 2019 to 2020, and from 2020 to 2021? e. (2 points) What was the growth rate (i.e., the percent change) of real GDP from 2019 to 2020, and from 2020 to 2021? f. (2 points) What was the inflation rate (i.e., the percent change in the price level) from 2019 to 2020, and from 2020 to 2021? g. (2 points) Explain, both mathematically and intuitively, the relationship between your answers in parts d, e, and f

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