(Answered) In a conversation someone mentioned that australias

Economics

In a conversation, someone mentioned that "Australia's economic grew because current or market GDP in 2016 was 1.11 trillion and in 2017 it was 1.14 trillion". Upon checking you found that in these two years Australia's GDP price deflator increased from 104.2 to 105.7. Explain with numerical calculations if the statement is factually accurate.

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