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Please also explain the steps Chapter 5: Chain-type growth rate, GDP deflator, Consumer Price Index (CPI), and Inflation Product Quantity Price Cereal 1,000 $1.00 Year

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Chapter 5: Chain-type growth rate, GDP deflator, Consumer Price Index (CPI), and Inflation Product Quantity Price Cereal 1,000 $1.00 Year 1 Beef 700 $2.00 Doughnuts 600 $0.50 Cereal 1,400 $1.10 Year 2 Beef 600 $2.50 Doughnuts 500 $0.75 A. If year 1 is the base year, what is the constant-dollar real growth rate from year 1 to year 2? B. If year 2 is the base year, what is the constant-dollar real growth rate from year 1 to year 2? C. If year 1 is the base year, what is the GDP deflator in year 2? D. If year 1 is the base year, what is the consumer price index (CPI) in year 2? E. If year 1 is the base year, what is the inflation rate between year 1 and 2

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