(Answered) Given the information in the table answer the following

Management Studies

Given the information in the table, answer the following questions.

Year 2001 nominal GDP 500 Real GDP 400 Real interest rate 3%

Year 2002 nominal GDP 545 Real GDP 420 Real interest rate 4%

Year 2003 nominal GDP 620 Real GDP 430 Real interest rate 2%

Given the above information, what is the inflation rate in 2002?
what is the cost of holding $1 money in 2002?

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