The following table shows the case of a country for which the only difference between years 1
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Question:
The following table shows the case of a country for which the only difference between years 1 and 2 is that it has been able to develop and produce more efficient (i.e., less gas-consuming) cars.
Year 1 | Year 2 | |||
Good | Quantity | Price | Quantity | Price |
Cars | 40 | $85 | 40 | $85 |
Gas | 160 | $4 | 35 | $2 |
Using year 1 as the base year, the inflation rate based on the GDP deflator is _____%. (Submit your answer with up to two decimals, i.e., 10.22 for 10.22% and 11.44 for 11.447%.)
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