What was rate of inflation for goods and services produced

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Reference no: EM13736552

a) Suppose nominal GDP rose from 6250 billion in 1995 to 6630 billion in 1996. If the GDP deflator rose from 125 to 130 during this time, what was the percent growth in real GDP?

b) Given the data in part (a), what was the rate of inflation for goods and services produced in the U.S. economy?

Reference no: EM13736552

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