Suppose you are given the following data for an economy: Plot the data for real GDP, with the time period on the horizontal axis and real GDP on the vertical axis. a. There are two peaks. When do they...

Plot the data for real GDP, with the time period on the horizontal axis and real GDP on the vertical axis.

a. There are two peaks. When do they occur?

b. When does the trough occur?

The Consumer Price Index in Period 1 is 107.5. It is 103.8 in Period 2. Is this a situation of inflation for deflation? What is the rate?