Nominal GDP rises from $1,450 in 1994 to $2,900 in 1995, and Real GDP rises from $1,450
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Nominal GDP rises from $1,450 in 1994 to $2,900 in 1995, and Real GDP rises from $1,450 in 1994 to $3,750 in 1995.
(a) What is the GDP deflator in 1994?
(b) What is the GDP deflator in 1995?
(c) What is the inflation rate between 1994 and 1995.
(d) If the consumer price index was 166.6 in one year and 172.2 the next year then the rate of inflation from one year to the next was?
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