CENGAGE | MINDTAP Homework (Ch 23) Consider a simple economy that produces two goods: stickers and seltzers. The following table shows the prices and quantities of the goods over a three year period. Stickers Seltzers Price Quantity Price Quantity Year (Dollars per sticker) (Number of stickers) (Dollars per seltzer) (Number of seltzers) 2018 295 180 2019 140 210 AN 2020 145 160 access Tips Use the information from the preceding table to fill in the following table. ccess Tips Nominal GDP Real GDP Year (Dollars) (Base year 2018, dollars) GDP Deflator 2018 2019 2020 N OUT From 2019 to 2020, nominal GDP V , and real GDP The inflation rate in 2020 was 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. minal GDP is adjusted for the effects of inflation or deflation, whereas real GDP is not