Business, 04.04.2020 05:27, jakeyywashere

Use the information to calculate the GDP deflator for both years and the inflation rate. The base year is 1970. Assume that there are only three goods in the economy: eggs, calculators, and microwave ovens. Please round your answer to two decimal points. Market basket 1970 prices 1975 quantity 1975 prices 1976 quantity 1976 prices dozen eggs 0.20 23 0.70 27 1.10 calculator 17.00 13 11.50 19 16.50 microwave 90.00 2 140.00 6 160.00 What is the GDP deflator for 1975? 1975 GDP deflator : What is the GDP deflator for 1976? 1976 GDP deflator : What is the inflation rate for 1976, when compared with 1975? inflation rate :

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Use the information to calculate the GDP deflator for both years and the inflation rate. The base ye...