Below data shows the economies of Gotham and Metropolis. Gotham MetropolisYearGDP deflator(or GDP Price Index)Nominal GDPPopulationYearGDP deflator(or GDP Price Index)Nominal GDPPopulation2019 95 155 42019 85 160 42020 110 220 52020 110 220 5What is the inflation rate of Gotham from 2019 to 2020?______%(if your answer has decimal point, cut off at the first decimal point. Eg. if your calculated answer is 9.93, write your answer 9.9)

Inflation rate measures the rate at which price rises over time, which leads to fall in the…

Answered: Below data shows the economies of…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 33P: The index number representing the price level changes from 110 to 115 in one year and then from 115...

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Below data shows the economies of Gotham and Metropolis.

	Gotham		Metropolis
Year	GDP deflator (or GDP Price Index)	Nominal GDP	Population	Year	GDP deflator (or GDP Price Index)	Nominal GDP	Population
2019	95	155	4	2019	85	160	4
2020	110	220	5	2020	110	220	5

What is the inflation rate of Gotham from 2019 to 2020?

______%

(if your answer has decimal point, cut off at the first decimal point. Eg. if your calculated answer is 9.93, write your answer 9.9)

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