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Hello, please help me with this I continue to get it incorrect. 2 . Real versus nominal GDP Consider a simple economy that produces two
Hello, please help me with this I continue to get it incorrect.
2 . Real versus nominal GDP Consider a simple economy that produces two goods: apples and muffins. The following table shows the prices and quantities of the goods over a period. Price Apples Quantity Muffins Quantity (Dolla rs per muffin) (Number of muffins) Y ear 2016 2017 2018 (Dollars per apple) (Number of apples) 135 110 Use the information from the preceding table to fill jn the following table. i 60 155 Photos - c2.JPG + Add to See all photos Choices for the drop arrow lines are as follows: decreased, or increased Prgp_decreased, or increased D or 0.10/0, or 12.5%, or 88.9%, or 112.5% G) Nominal GDP (Dolla rs) Real GDP (Base year 2016, dollars) Year 2016 2017 2018 GDP Deflator From 2017 to 2018, nominal GDP The inflation rate in 201S was , and real GDP Why is real GOP a more accurate measure of an economVs production than nominal GDP? C) Nominal GDP is adjusted for the effects of inflation or deflation, whereas real GDP is not. C) Real GDP measures the value of the goods and services an economy produces, but nominal services an economy consumes. C) Real GDP is not influenced by price changes, but nominal GDP is. Please respond to the question. at the bottom of the picture that says: Why is real GDP a more accurate measure of an economys production than nominal GDP? measures
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