The table below shows the GDP deflator and the CPI over the past five years. By...

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The table below shows the GDP deflator and the CPI over the past five years. By what percentage did prices change between yea

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Answer 1

Answer #1

Change in GDP Deflator

2016 = GDP Defltor in 2016 / GDP deflator in 2015 - 1 * 100

= 105 / 100 - 1 * 100 = 0.05 * 100

= 5 %

2017 = GDP Defltor in 2017 / GDP deflator in 2016 - 1 * 100

= 112 / 105 - 1 * 100 = 6.666%

2018 = GDP Defltor in 2018 / GDP deflator in 2017 - 1 * 100

= 123/112 - 1 * 100 = 9.821%

2019 = GDP Defltor in 2019 / GDP deflator in 2018 - 1 * 100

= 128 / 123 - 1 * 100

= 4.065 %

2015 - 2019 = GDP defltor in 2019 / Deflator in 2015 - 1 * 100

= 128 / 100 - 1 * 100

= 28 %

Change in CPI

2016 = CPI in 2016 / CPI in 2015 - 1 * 100

= 104 / 100 - 1 * 100 = 4 %

2017 = CPI in 2017 / CPI in 2016 - 1 * 100

= 5.769%

2018 = CPI in 2018 / CPI in 2017 - 1 * 100

= 113 / 110 - 1 *100=

2019 = CPI in 2019 / CPI in 2018 - 1 * 100

= 2.727%

2015 - 2019 = CPI in 2019 / CPI in 2015 - 1 * 100

= 122 / 100 - 1 * 100

= 22%

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The table below shows the GDP deflator and the CPI over the past five years. By...

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