Question: Using the data in the Table below, compute the inflation rate in year 2 and the inflation rate in year 3. Express your answers

Using the data in the Table below, compute the inflation rate in year 2 and the inflation rate in year 3. Express your answers in percent. Year 3 Year 1 94.9 Year 2 100 102.4 Table Implicit GDP price deflator Note: Round your FINAL answers to 2 decimal places. Type your numerical answers in the boxes provided below. The inflation rate in year 2 is The inflation rate in year 3 is percent. percent.

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