Question

The quiz will be 30 minutes in length and will be accessible over a 24-hour period y 4pm-Friday 4pm). Please note that once you advance past a question you cannot retur please answer all questions in the order given to avoid missing points. Return to this quiz t 5pm to see your score and correct answers. Question 5 1 pts If the GDP deflator is 123.7 in 1998 and 132.1 in 1999, what is the inflation rate in percentage terms (e.g. 20.5, not 0.205)? (please round your answer to the nearest one decimal place Next

Answer 1

Inflation rate={(Deflator in 1999-deflator in 1998)/Deflator in 1998}*100

Inflation rate={(132.1-123.7)/123.7}*100

Inflation rate=6.79%