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If the nominal GDP was $350 Billion but the real GDP is $2.2 Trillion. Select all that apply O The price index must be greater than 100 O The value of the dollar was lower that year O Prices were higher that year O Prices were lower that year O The price index must be less than 100 O The price index must be equal to 100 O The value of the dollar was higher that vear

If the nominal GDP was $350 Billion but the real GDP is $2.2 Trillion. Select all that apply O The price index must be greater than 100 O The value of the dollar was lower that year O Prices were higher that year O Prices were lower that year O The price index must be less than 100 O The price index must be equal to 100 O The value of the dollar was higher that vear

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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If the nominal GDP was $350 Billion but the real GDP is $2.2 Trillion. Select all that apply O The price index must be greater than 100 O The value of the dollar was lower that year O Prices were higher that year O Prices were lower that year O The price index must be less than 100 O The price index must be equal to 100 O The value of the dollar was higher that year
Transcribed Image Text:If the nominal GDP was $350 Billion but the real GDP is $2.2 Trillion. Select all that apply O The price index must be greater than 100 O The value of the dollar was lower that year O Prices were higher that year O Prices were lower that year O The price index must be less than 100 O The price index must be equal to 100 O The value of the dollar was higher that year
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