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The table below displays an economy that produces only twogoods: rubber ducks and laptop chargers for the years 2015 and2016. Using the GDP-deflator, the inflation
The table below displays an economy that produces only twogoods: rubber ducks and laptop chargers for the years 2015 and2016. Using the GDP-deflator, the inflation rate between 2015 and2016 is approximately equal to
2015 price./quantity | 2016 price/quantity | |
rubber ducks | $2 / 3,000 | $3 / 2,000 |
laptops | $10 / 4,000 | $11.50 / 3,000 |
13.58%
1.358%
19.12%
1.912%
100%
1%
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