The following table gives nominal and real GDP for an economy for two years. Year 1 Year 2 1540.0 1960.0 Nominal GDP Real GDP 1,400 1680.0 Based on the table, in Year 2, the value of the GDP deflator is 91.67 (Round your answer to one decimal place.) The inflation rate between Year 1 and Year 2 is %. (Round your answer to one decimal place.)

The following table gives nominal and real GDP for an economy for two years. Year 1 Year 2 1540.0 1960.0 Nominal GDP Real GDP 1,400 1680.0 Based on the table, in Year 2, the value of the GDP deflator is 91.67 (Round your answer to one decimal place.) The inflation rate between Year 1 and Year 2 is %. (Round your answer to one decimal place.)

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter17: Inflation

Section: Chapter Questions

Problem 5SQ

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