Homework Answers
Answer 13 :-
(D) Overstate the inflation rate
Answer 14 :-
(E) - 2.5%
Inflation rate =( 143-130)/130*100=10%
Avg annual inflation rate = 10/4=2.5 % annually
Note :- (4=1994-1990)
Answer 15 :-
(J) GDP deflator
Answer 16 :-
(H) Not changed.
Inflation rate =( 165-160)/160*100=3.125%
Real income = Wages /(1+ inflation rate )
=33000/1.03125
=32000
Change in income =(32000-32000)/32000*100=0
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