What is the inflation rate as measured by the gdp deflator

Reference no: EM13188908

Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 3 bars and the price is $4. In year 2, the quantity produced is 4 bars and the price is $5. In year 3, the quantity produced is 5 bars and the price is $6. Year 1 is the base year.
E. What is the inflation rate as measured by the GDP deflator from year 2 to year 3?

Reference no: EM13188908

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