Using the information in the table, the 2021 inflation rate is Year Nominal GDP Real GDP Price Index 2020 $12 trillion $10 trillion 120.00 2021 $12.5 trillion $9.8 trillion 126.00 a) 5.0% b) 6.0% c) 26.0%
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The accompanying table provides the annual real GDP (in billions of 2009 dollars) and nominal GDP (in billions of dollars) for the United States. $$\begin{array}{c|c|c|c|c|c} & \mathbf{2 0 0 9} & \mathbf{2 0 1 0} & \mathbf{2 0 1 1} & \mathbf{2 0 1 2} & \mathbf{2 0 1 3} \\ \begin{array}{c} \text { Real } \\ \text { GDP } \\ \text { (billions } \end{array} & 14,417.9 & 14,779.4 & 15,052.4 & 15,470.7 & 15,761.3 \\ \begin{array}{c} \text { of 2009 } \\ \text { dollars) } \end{array} & & & & \\ \begin{array}{c} \text { Nominal } \\ \text { GDP } \\ \text { (billions } \\ \text { of } \\ \text { dollars) } \end{array} & 14,417.9 & 14,958.3 & 15,533.8 & 16,244.6 & 16,799.7 \\ \end{array}$$ a. Calculate the GDP deflator for each year. b. Use the GDP deflator to calculate the inflation rate for all years except 2009
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