onsider a simple economy that produces two goods: beers and donuts. The following table shows the prices and quantities of the goods over a three-year period.

Year	Beers	Donuts
Price	Quantity	Price	Quantity
(Dollars per beer)	(Number of beers)	(Dollars per donut)	(Number of donuts)
2020	3	210	4	180
2021	2	150	4	200
2022	3	125	4	180

Use the information from the preceding table to fill in the following table.

Year	Nominal GDP	Real GDP	GDP Deflator
(Dollars)	(Base year 2020, dollars)
2020
2021
2022

From 2021 to 2022, nominal GDP______ (increased or decreased), and real GDP _________ (increased or decreased) .

The inflation rate in 2022 was _____ ( -13.6%, 0.1%, 13.6%, 88%, or 113.6%) .

Which below is the reason why real GDP is a more accurate measure of an economy's production than nominal GDP?

1. Real GDP includes the value of exports, but nominal GDP does not.

2. Real GDP is not influenced by price changes, but nominal GDP is.

3. 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.