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In an economy, there are only two goods (Cars and cycles) produced. The data for last three years is given in the below table.Calculate the
In an economy, there are only two goods (Cars and cycles) produced. The data for last three years is given in the below table.Calculate the nominal and real GDP of three years and then find the GDP deflator for all the three years. Find year on year (YoY) inflation for 2018 and 2019. Note: the base year for this economy is given as 2017.
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