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(Solved): 3. Consider the economy described in problem 2. a. Use the prices for 2017 as the set of common pric ...



3. Consider the economy described in problem 2. a. Use the prices for 2017 as the set of common prices to compute real GDP in 2017 and 2018. Compute the GDP deflator for 2017 and 2018, and compute the rate of inflation from 2017 to 2018. b. Use the prices for 2018 as the set of common prices to compute real GDP in 2017 and 2018. Compute the GDP deflator for 2017 and 2018, and compute the rate of inflation from 2017 to 2018.



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