Question
The following price and quantity statistics are available about this economy: 2015 Hamburgers Price = $2.00; Quantity = 2000 Soft Drinks Price = $0.50; Quantity
The following price and quantity statistics are available about this economy:
2015
Hamburgers
Price = $2.00; Quantity = 2000
Soft Drinks
Price = $0.50; Quantity = 2000
2016
Hamburgers
Price = $2.25; Quantity = 2000
Soft Drinks
Price = $0.50; Quantity = 2200
Taking 2015 as the base year, find the rate of inflation based on GDP deflator in 2016. Round to the nearest whole percent and enter just the number with no symbols.
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Essentials Of Economics
Authors: N. Gregory Mankiw
5th Edition
0324590024, 9780324590029
