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What is the inflation and growth rate of output

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Reference no: EM132140536

The data below contains data for the country of Chelsea. The base year is 1974.

Year. Nominal GDP. GDP Deflator.

1974 $2000 100

1975 $3000 120

1976 $3750 150

1977 $6000 200

a) What is the real GDP in 1975?

b) From 1976 to 1977, what is the inflation and growth rate of output?

Reference no: EM132140536

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