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(Solved): The table below shows the GDP deflator and the CPI over five recent years. By what percent did pric ...
The table below shows the GDP deflator and the CPI over five recent years. By what percent did prices change between years for each measure? Calculate the annual inflation rate and then the inflation rate across the entire time period. Instructions: Round your answers to two decimal places.
Expert Answer
Year GDP Deflator Change in GDP deflator CPI Change in CPI 2014 100 100 2015 105 5% 104 4% 2016 112 6.66% 110 5.45% 2017 124 10.62% 114 3.63% 2018 127