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Consider a simple economy that produces two goods: stickers and donuts. The following table shows the prices and quantities of the goods over a three

Consider a simple economy that produces two goods: stickers and donuts. The following table shows the prices and quantities of the goods over a three-year period.
\table[[Year,Stickers,Donuts],[\table[[Price],[(Dollars per sticker)]],\table[[Quantity],[(Number of stickers)]],\table[[Price],[(Dollars per donut)]],\table[[Quantity],[(Number of donuts)]]],[2019,2,265,1,160],[2020,2,135,4,230],[2021,2,135,4,180]]
Use the information from the preceding table to fill in the following table.
\table[[,Nominal GDP,Real GDP,],[Year,(Dol/ars),(Base year 2019, dollars),GDP Deflator],[2019,,,],[2020,,,],[2021,,,]]
From 2020 to 2021, nominal GDP , and real GDP
The inflation rate in 2021 was .
Why is real GDP a more accurate measure of an economy's production than nominal GDP?
Real GDP does not include the value of intermediate goods and services, but nominal GDP does.
Real GDP is not influenced by price changes, but nominal GDP is.
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.
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