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The following table gives nominal and real GDP for an economy for two years. Year 1 Year 2 Nominal GDP 1320.0 1680.0 Real GDP 1,200

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The following table gives nominal and real GDP for an economy for two years. Year 1 Year 2 Nominal GDP 1320.0 1680.0 Real GDP 1,200 1440.0 Based on the table, in Year 2, the value of the GDP deflator is . (Round your answer to one decimal place.) The inflation rate between Year 1 and Year 2 is |%. (Round your answer to one decimal place.)

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