Find the average annual inflation rate as measured

Reference no: EM13236756

U.S. Nominal GDP for the year 2010 was $14,658 billion, whereas in 2000 it was $9,951 billion. The GDP deflator for 2000 (2010) was 88 (111) using 2005 as a base year. Using the compound growth formula xt+n = xt(1 + g)^n (where xt is the value of the series at time t, n is the number of years, and g is the annual growth rate)

find the average annual inflation rate (p) as measured by the GDP deflator.

Reference no: EM13236756

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