Year Nominal GDP $($dollars$)$ Real GDP $($dollars$)$ GDP Price Index

$1$ $$500$ $$500$

$2530515$

$3567527$

$4550522$

$5594543$

$6633559$

Instructions: Round your answers to one decimal place.

a$.$ Using the information in the table, compute the GDP price index for each year, and then complete the $"$GDP Price Index" column.

b$.$ Using the GDP price index, prices in Tinseltown

$($Click to select$)$

between year $2$ and year $3.$