Essay
Table 23-11
The country of Batavia produces only chocolates and watches. Below is a table with recent information on Batavia production and prices. The base year is 2009.
Prices and Quantities
-Refer to Table 23-11.
What was the inflation rate for 2011? Show your work.
Correct Answer:

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For 2010 the GDP Deflator was 112.
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