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m/staticb/ui/evo/index.html?deploymentld=5981416097817970635987462&elSBN=9780357133576&id=1501904398&snapsh Maps CENGAGE | MINDTAP tomework (Ch 23) Consider a simple economy that produces two goods: pens and oranges. The following table shows the prices

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m/staticb/ui/evo/index.html?deploymentld=5981416097817970635987462&elSBN=9780357133576&id=1501904398&snapsh Maps CENGAGE | MINDTAP tomework (Ch 23) Consider a simple economy that produces two goods: pens and oranges. The following table shows the prices and quantities of the goods over a three- year period. Pens Oranges Price Quantity Price Quantity Year (Dollars per pen) ( Number of pens) ( Dollars per orange) (Number of oranges) 2018 1 125 200 2019 N 170 230 2020 A 150 170 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 2018 2019 2020 From 2019 to 2020, nominal GDP , 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. Real GDP includes the value of exports, but nominal GDP does not. Real GDP does not include the value of intermediate goods and services, but nominal GDP does

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