If real GDP falls from one period to another and the price level stays the same, we can conclude that… a) Nominal GDP increased b) Inflation decreased c) Nominal GDP also decreased d) NDP increased
If real GDP falls from one period to another and the price level stays the same, we can conclude that… a) Nominal GDP increased b) Inflation decreased c) Nominal GDP also decreased d) NDP increased
Chapter7: Inflation
Section: Chapter Questions
Problem 5SQP
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Question
1.21 If real
a) Nominal GDP increased
b) Inflation decreased
c) Nominal GDP also decreased
d) NDP increased
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