The inflation rate = ________.
A)nominal GDP - real GDP
B)growth rate in real GDP - growth rate in nominal GDP
C)growth rate in real GDP + growth rate in nominal GDP
D)nominal GDP ÷ real GDP
E)none of the above

Question

Quizplus · Accepted Answer

The inflation rate is typically calculated using the Consumer Price Index (CPI) or similar measures, which track the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. None of the options provided accurately describe how the inflation rate is calculated.

The Inflation Rate = ________