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Using the (attached) GDP implicit price deflators answer the following questions: a. What was the effective inflation annual inflation rate from 1970-2017? b. An individual's

Using the (attached) GDP implicit price deflators answer the following questions: a. What was the effective inflation annual inflation rate from 1970-2017? b. An individual's salary was $22,000 in 1980. How much would the salary need to be in 2017 to have maintained its purchasing power?

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