In years 1 and 4, the nation's real GDP is estimated to be $97.5 billion and $155.21 billion, respectively.
The gross domestic product of a country that accounts for inflation is known as real GDP. In contrast, nominal GDP calculates GDP using current prices without taking inflation into account.
The gross domestic product (GDP) that has not been prorated for inflation is known as nominal GDP. By factoring in the values of all the products and services produced during the most recent reporting period, current price estimates of GDP are created.
Real GDP = (nominal GDP*100/price index)
Real GDP in year 1 = 117×100/120
Real GDP in year 1 is $97.5 billion
Real GDP in year 4 = 149×100/96
Real GDP in year 4 is $155.21 billion
To learn more about real GDP
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