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QUESTION

(a) Obtain data for the consumer price index (CPI) and the GDP deflator (use the chain-type price index for GDP) for the following years: 1972...

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(a)  Obtain data for the consumer price index (CPI) and the GDP deflator (use the chain-type price index for GDP) for the following years: 1972 41.8 24.973, 1973 44.4 26.335, 1974 49.3 28.708 .

(b)  Calculate the inflation rate between 1972-1973 and between 1973-1974 using the CPI

Measure. 6.2 11

(c)  Calculate the inflation rate between 1972-1973 and between 1973-74 using the GDP-deflator measure

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