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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
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) 2020 210 4 180 2021 150 200 W N 2022 125 180 Use the information from the preceding table to fill in the following table. Nominal GDP Real GDP Year (Dollars) (Base year 2020, dollars) GDP Deflator 2020 2021 2022 From 2021 to 2022, nominal GDP ,and real GDP The inflation rate in 2022 was
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