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Author Question: The GDP deflator in year 2 is 110 using year 1 as a base year. This means that, on average, the ... (Read 124 times)

ts19998

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Question 1

The GDP deflator in year 2 is 110 and the GDP deflator in year 3 is 118. The rate of inflation between years 2 and 3 is


◦ 4.55%.
◦ 7.27%.
◦ 8%.
◦ 18%.

Question 2

The GDP deflator in year 2 is 110 using year 1 as a base year. This means that, on average, the price of goods and services is


◦ 110% higher in year 2 than in year 1.
◦ 10% higher in year 2 than in year 1.
◦ 5% higher in year 1 than in year 2.
◦ 110% higher in year 1 than in year 2.


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Marked as best answer by ts19998 on Apr 19, 2019

ergserg

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ts19998

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Reply 2 on: Apr 19, 2019
Great answer, keep it coming :)


bblaney

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Reply 3 on: Yesterday
Excellent

 

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