Use the information from the preceding table to fill in the following table. Nominal GDP Real GDP Year (Dollars) (Base year 2016, dollars) GDP Deflator 2016 2017 2018 From 2017 to 2018, nominal GDP and real GDP The inflation rate in 2018 was -12.5% Why is real GDP a more accura e of an economy's production than nominal GDP? -0.1% O Real GDP is not influ rice changes, but nominal GDP is. 12.5% O Real GDP includes th exports, but nominal GDP does not. 87.5% Real GDP does not ir value of intermediate goods and services, but nominal GDP does. 114.3% Grade It Now

Use the information from the preceding table to fill in the following table. Nominal GDP Real GDP Year (Dollars) (Base year 2016, dollars) GDP Deflator 2016 2017 2018 From 2017 to 2018, nominal GDP and real GDP The inflation rate in 2018 was -12.5% Why is real GDP a more accura e of an economy's production than nominal GDP? -0.1% O Real GDP is not influ rice changes, but nominal GDP is. 12.5% O Real GDP includes th exports, but nominal GDP does not. 87.5% Real GDP does not ir value of intermediate goods and services, but nominal GDP does. 114.3% Grade It Now

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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