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Nominal GDP 2015 Real GDP 2015 Nominal GDP 2016 Real GDP 2016 25 25 40 39...

Nominal GDP 2015 Real GDP 2015 Nominal GDP 2016 Real GDP 2016
25 25 40 39


The inflation rate between 2014 and 2015 was 4%. The price level change or inflation rate between 2015 and 2016 would be (inflation/deflation/hyperinflation/stagflation/superinflation/disinflation)

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Answer #1

GDP deflator in 2016 is Nominal GDP/Real gDP*100

GDP deflator=40/39*100=102.564

Thus inflation rate=2.564%

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