The following two tables represent the price and quantity of the goods produced within an economy...

Question

Question

The following two tables represent the price and quantity of the goods produced within an economy in 2015 & 2016.

What is the inflation rate between 2015 & 2016?

Answer 1

Answer #1

Below are the formulas used for calculations Nominal GDP-Sum of (Current year price xCurrent year quantity) Real GDP Sum of (

Answer 2

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