19. E. Gross Domestic Product

Suppose an economy consists of three final goods: chai, spicy peanuts and books. The table below shows the prices and quantities of these goods in 2014 and 2020. Use 2014 as the base year in your calculation below.

Chai (price per 6oz cup of chai)

2014: P = $4, Q = 150

2020: P = $6, Q = 200

Spicy Peanuts

2014: P = $5, Q = 60

2020: P = $8, Q = 100

Books

2014: P = $10, Q = 150

2020: P = $15, Q = 200

Using this information, calculate the GDP deflator in 2020. Please enter two digits after the decimal point.

20. F. Gross Domestic Product

Suppose an economy consists of three final goods: chai, spicy peanuts and books. The table below shows the prices and quantities of these goods in 2014 and 2020. Use 2014 as the base year in your calculation below.

Chai (price per 6oz cup of chai)

2014: P = $4, Q = 150

2020: P = $6, Q = 200

Spicy Peanuts

2014: P = $5, Q = 60

2020: P = $8, Q = 100

Books

2014: P = $10, Q = 150

2020: P = $15, Q = 200

What is the rate of inflation between 2014 and 2020 using the GDP deflator to measure inflation?

Please answer in percent and round your answer to two decimal places.