If gdp deflator for the year 2014 and 2015 are 105 and 108
(a) What is GDP deflator and how is it calculated?
(b) If GDP deflator for the year 2014 and 2015 are 105 and 108 respectively, then calculate the increase in price level between 2014 and 2015.
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a what is gdp deflator and how is it calculatedb if gdp deflator for the year 2014 and 2015 are 105 and 108
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