Calc Infl I For all questions in this section, refer to the following information: Calculate the inflation rate for each year based on both the GDP Deflator and the CPI using the following table: Year Price A Quantity A Price B Quantity B 2017 (Base 100 10 20 75 Year) 2018 101 10 20 75 2019 102 11 21 80 2020 101 11 22 80 Always round to one decimal and continue your calculation using the rounded values. Question 6 Listen Using the GDP Deflator to calculate the inflation rate for the year 2018, then the inflation rate is -0.40% 0 1% 0.40%
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GDP Deflator = (Nominal GDP / Real GDP) * 100 For 2017: GDP Deflator = (100 / 100) * 100 = 100 For 2018: GDP Deflator = (101 / 100) * 100 = 101 Show more…
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