Assume that you are told a country's nominal GDP decreased from one year to the next. All of the following could have occurred, except one. Which one? O Output increased and the price level decreased. O Output decreased and the price level remained constant. O Output decreased and the price level decreased.

Assume that you are told a country's nominal GDP decreased from one year to the next. All of the following could have occurred, except one. Which one? O Output increased and the price level decreased. O Output decreased and the price level remained constant. O Output decreased and the price level decreased.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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