Please answer everything in the photo. Consider a simple economy that produces two goods: beers and seltzers. The following table shows the prices and quantities of the goods over athree-year period.PriceYear (Dollars per beer)202022021322022Year2020Beers20212022Quantity(Number of beers)255From 2021 to 2022, nominal GDPThe inflation rate in 2022 was165Use the information from the preceding table to fill in the following table.130Price(Dollars per seltzer)23Nominal GDPReal GDP(Dollars) (Base year 2020, dollars) GDP Deflator3and real GDPSeltzersQuantity(Number of seltzers)195190Why is real GDP a more accurate measure of an economy's production than nominal GDP?195O Nominal GDP is adjusted for the effects of inflation or deflation, whereas real GDP is not.O Real GDP is not influenced by price changes, but nominal GDP is.O Real GDP includes the value of exports, but nominal GDP does not.

GDP deflator GDP deflator shows the ratio of prices of all products and services produced…

Consider a simple economy that produces two goods: beers and seltzers. The following table shows the prices and quantities of the goods or three-year period. Year 2020 2021 2022 Year 2020 2021 2022 Beers Price (Dollars per beer) 2 3 2 Use the information from the preceding table to fill in the following table. Quantity (Number of beers) 255 165 130 From 2021 to 2022, nominal GDP The inflation rate in 2022 was Price (Dollars per seltzer) 2 Nominal GDP Real GDP (Dollars) (Base year 2020, dollars) GDP Deflator 3 3 , and real GDP Seltzers Quantity (Number of seltzers) 195 190 195