Calculate the rate of inflation for 2020 and 2021 using the GDP deflator as your price index. Assume that 2019 is still the base year.
Year Price of Pizza Quantity of Pizza Price of Burger Quantity of Burger Price of coffee Quantity of Coffee 2019 $ 8 350 $ 10 200 $ 8 150 2020 $ 10 500 $ 12 250 $ 10 250 2021 $ 13 700 $ 14 400 $ 15 400 1.Suppose people consume 3 different goods. […]