2002 2003 2004 Nominal GDP in billions of dollars) S6,992.4 7,431.6 7,843.2 GDP deflator 1062 109.1 112.3 CPI 151.6 153.8 157.8 Based on Table 7.1, the rate of inflation between 2003 and 2004, using the GDP deflator, was A) 6.2 percent percent. C) 2.4 percent. D 2.9 percent Leaming Objective: 07-01 How inflation is measured B) 4.1 O