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      Question

      Consider an Economy that produces only Apples and

      Bananas. The following Table contains per unit price (in INR) and quantity (in kg) of these goods. Assuming 2010 as the Base Year and using GDP deflator to calculate the annual inflation rate, which of the following options is CORRECT?  
      A GDP deflator for the year 2011 is 100 and the inflation rate for the year 2011 is 0% Correct Answer Incorrect Answer
      B GDP deflator for the year 2012 is 50 and the inflation rate for the year 2012 is 100% Correct Answer Incorrect Answer
      C GDP deflator for the year 2011 is 50 and the inflation rate for the year 2011 is 0 % Correct Answer Incorrect Answer
      D GDP deflator for the year 2012 is 100 and the inflation rate for the year 2012 is 100% Correct Answer Incorrect Answer

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