Nominal gross domestic product (GDP) increased from $15.62 trillion to $16.09 trillion,and the price level increased from 120.0 to 122.4.Rounding to the nearest first decimal,the rate of inflation was
A) 3.0 percent.
B) 1.0 percent.
C) 2.4 percent.
D) 20.0 percent.
E) 2.0 percent.
Correct Answer:
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