onsider a simple economy that p2 . Real versus nominal GDP Consider a simple economy that produces two goods: coffees and paper plates. The following table shows the prices and quantities of the goods over a three-year period. Year Coffees Paper plates Price Quantity Price Quantity (Dollars per coffee) (Number of coffees) (Dollars per paper plate) (Number of paper plates) 2018 2 275 1 170 2019 4 155 2 200 2020 2 120 2 160 Use the information from the preceding table to fill in the following table. Year Nominal GDP Real GDP GDP Deflator (Dollars) (Base year 2018, dollars) 2018 2019 2020 From 2019 to 2020, nominal GDP , and real GDP . The inflation rate in 2020 was .r2 . Real versus nominal GDP Consider a simple economy that produces two goods: coffees and paper plates. The following table shows the prices and quantities of the goods over a three-year period. Year Coffees Paper plates Price Quantity Price Quantity (Dollars per coffee) (Number of coffees) (Dollars per paper plate) (Number of paper plates) 2018 2 275 1 170 2019 4 155 2 200 2020 2 120 2 160 Use the information from the preceding table to fill in