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Inflation rate based on the gdp deflator

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Reference no: EM133128908

The following table shows the case of a country for which the only difference between year 1 and 2 is that it has been able to develop and produce more efficient (i.e., less gas-consuming) cars.

 

Year1

Year2

 

 

Good

Quantity

Price

Quantity

Price

Cars

40

$85

40

$85

Gas

160

$4

35

$2

Using year 1 as base year, the inflation rate based on the GDP deflator is _____%. (Submit your answer with up to two decimals, i.e., 10.22 for 10.22% and 11.44 for 11.447%.)

Reference no: EM133128908

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