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Which period saw the lowest percentage increase in the price level as measured by the GDP deflator? Explain your answer. (Hint: compare the quarterly measure

Which period saw the lowest percentage increase in the price level as measured by the GDP deflator? Explain your answer. (Hint: compare the quarterly measure and annual measure

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Table 1.3 GDP Deflator Percentage Percentage Change Change (Quarterly) (Annual) Mar-2019 100.64 NA NA Jun-2019 101.45 NA NA Sep-2019 102.13 NA NA Dec-2019 101.49 NA NA Mar-2020 102.10 0.60% 1.45% Jun-2020 101.59 .50 0.14% Sep-2020 102.15 0.55% 0.02% Dec-2020 103.26 1.09% 1.74%

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