Real versus nominal GDP

Consider a simple economy that produces two goods: beers and paper plates. The following table shows the prices and quantities of the goods over a

three$-$year period.

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

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

Nominal GDP

Year

$($Dollars$)$

$2017$

$2018$

$2019$

From $2018$ to $2019,$ nominal GDP

The inflation rate in $2019$ was

The inflation rate in $2019$ 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$.$

Nominal GDP is adjusted for the effects of inflation or deflation, whereas real GDP is not.