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The Country of Myrule Has Produced the Following Quantity of Gauges

Question 21

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The country of Myrule has produced the following quantity of gauges and potatoes,with the price of each listed in dollar terms. The country of Myrule has produced the following quantity of gauges and potatoes,with the price of each listed in dollar terms. (a)Using Year 1 as the base year,what is the growth rate of real GDP from Year 1 to Year 2? (b)Based on the GDP deflator,what is the inflation rate from Year 1 to Year 2? (a)Using Year 1 as the base year,what is the growth rate of real GDP from Year 1 to Year 2?
(b)Based on the GDP deflator,what is the inflation rate from Year 1 to Year 2?

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(a)Real GDP for Year 1 = Year 1 quantiti...

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