Author Question: The GDP deflator in year 3 is 85 using year 1 as a base year. This means that, on average, the price ... (Read 182 times)

nenivikky · **on:** Apr 19, 2019

Question 1

The GDP deflator in year 3 is 135 using year 1 as a base year. This means that, on average, the price of goods and services is

◦ 135% higher in year 3 than in year 1.
◦ 17.5% higher in year 3 than in year 1.
◦ 35% higher in year 3 than in year 1.
◦ 17.5% higher in year 1 than in year 3.

Question 2

The GDP deflator in year 3 is 85 using year 1 as a base year. This means that, on average, the price of goods and services is

◦ 15% higher in year 3 than in year 1.
◦ 7.5% higher in year 3 than in year 1.
◦ 15% higher in year 1 than in year 3.
◦ 7.5% higher in year 1 than in year 3.

nguyenhoanhat · **Reply #1 on:** Apr 19, 2019

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