In 2011 a Country Had a Real GDP of $13

question 30

Short Answer

In 2011 a country had a real GDP of $13.89 trillion and GDP deflator of 110. In 2012 it had a nominal GDP of $17.8 trillion and real GDP of 14.24 trillion. What is the rate of inflation in 2012?

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Definitions:

Headache

A common condition involving pain or discomfort in the head, scalp, or neck, often associated with tension, migraines, or other health issues.

Generalization

The process of applying the outcome of a particular case to a broader range of situations or groups.

Categorization

The process by which ideas and objects are recognized, differentiated, and understood.

Spreading Activation

A model of how information is retrieved in the brain, suggesting that spreading activation from one concept in a network triggers the retrieval of related concepts.