(Solved): 5. Real versus nominal GDP Consider a simple economy that produces two goods: beers and seltzers. T ...

5. Real versus nominal GDP Consider a simple economy that produces two goods: beers and seltzers. The following table shows the prices and quantities of the good 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. From 2020 to 2021, nominal GDP , and real GDP The inflation rate in 2021 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 no Real GDP is not influenced by price changes, but nominal GDP is. Real GDP includes the value of exports, but nominal GDP does not.