Real-Time Data Analysis Exercise The following table contains data for nominal GDP, real GDP, and potential real GDP from FRED* for the first quarter of 2021. U.S. GDP Data 21,806- Value Series (in billions) 20,876- Nominal GDP $22,061.5 19,946- Real GDP $19,086.4 19,016- Potential real GDP $19602.5 18,086- GDP (billions of dollars) A variable identified as nominal is one that is measured in current dollars. 17,156- 16,226- Using the data above, calculate the following: (Enter your responses rounded to 15,296- two decimal places.) i 14,366- The GDP deflator is 115.50 13,436- 12,506- Relative to potential real GDP, real GDP is 2.63 percent below potential real Q1: 1501: 1701: 1901: 21 GDP. "Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis