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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Make sure the inflation rate and the table are correct. Thanks.
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F25e588b9-b272-406a-8435-8ef7027d16be%2F4fd8cdf8-01d5-40d6-a598-46c75b7c30fe%2Fs32eh3u.png&w=3840&q=75)
Transcribed Image Text: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
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