Calculate the GDP deflator and the rate of inflation for each year: (€ million) 2013 2014 2015 Nominal GDP 3,540,000 4,730,000 5,110,000 Real GDP 2,900,000 3,250,000 4,800,200

Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Economic Fluctuations, Unemployment, And Inflation
Section: Chapter Questions
Problem 12CQ
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Calculate the GDP deflator and the rate of inflation for each year:
(€ million)
2013
2014
2015
Nominal GDP
3,540,000
4,730,000
5,110,000
Real GDP
2,900,000
3,250,000
4,800,200
Transcribed Image Text:Calculate the GDP deflator and the rate of inflation for each year: (€ million) 2013 2014 2015 Nominal GDP 3,540,000 4,730,000 5,110,000 Real GDP 2,900,000 3,250,000 4,800,200
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