5. Real versus nominal GDP Consider a simple economy that produces two goods: coffees and donuts. The following table shows the prices and quantities of the goods over a three-year period. Coffees Donuts Price Quantity Price Quantity Year (Dollars per coffee) (Number of coffees) (Dollars per donut) (Number of donuts) 2018 2 295 2 180 2019 2 140 4 210 2020 4 145 4 160 Use the information from the preceding table to fill in the following table. Nominal GDP Real GDP Year (Dollars) (Base year 2018, dollars) GDP Deflator From 2019 to 2020, nominal GDP w , and real GDP v o, The inflation rate in 2020 was v . Why is real GDP a more accurate measure of an economy's production than nominal GDP? ) Real GDP is not influenced by price changes, but nominal GDP is. e W Real GDP includes the value of exports, but nominal GDP does not. (0 Real GDP measures the value of the goods and services an economy produces, but nominal GDP measures the value of the goods and services an economy consumes