Refer to the information provided in Table below Find the nominal and real GDP for the following years and explain that in a short answer what you have notice.
Year
Price index
Output
Nominal GDP
Real GDP
2015
Base year price index=100
Output=4 million
4 x price 2015
4x100=400
2016
Current year price index=122
Output=6 million
6 x Price 2016
6x122=732
6 x price 2015
6x100=600
2017
Current year price index= 130
Output= 8 million
8 x Price 2017
8x130=1040
8 x price 2015
8 x 100=800
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