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(a) Calculate inflation in 2021 by the GDP deflator method (3 points) (b) Assume the basket is 1 car and 1 bushel of wheat. Calculate

(a) Calculate inflation in 2021 by the GDP deflator method (3 points)

(b) Assume the basket is 1 car and 1 bushel of wheat. Calculate inflation in 2021 using the CPI method (3 points)

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