Nominal GDP (in millions of $) 500 1996 600 Year Table 10.2 Superland 1995 Price Index: GDP Deflator 10,000 104 12,000 115 Funland 1995 1,000 Population 20,000 167 1996 1,500 21,000 231 Refer to information in Table 10.2. What is true about the standard of living and inflation rates in Superland compared to Funland from 1995 and 1996? Both the standard of living and the inflation rate are higher in Superland. Both the standard of living and the inflation rate are higher in Funland. The standard of living is higher in Superland; the inflation rate is higher in Funland The standard of living is higher in Funland; the inflation rate is higher in Suprland

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Chapter19: The Macroeconomic Perspective
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Table 10.2
Nominal
GDP (in
millions
of $)
Superland 1995 500
1996 600
Year
Funland 1995 1,000
1996 1,500
Population
10,000
12,000
Price
Index:
GDP
Deflator
104
115
20,000
167
21,000 231
Refer to information in Table 10.2. What is true about the
standard of living and inflation rates in Superland compared to
Funland from 1995 and 1996?
Both the standard of living and the inflation rate are higher in Superland.
Both the standard of living and the inflation rate are higher in Funland.
The standard of living is higher in Superland; the inflation rate is higher in
Funland
O The standard of living is higher in Funland; the inflation rate is higher in
Suprland
Transcribed Image Text:Table 10.2 Nominal GDP (in millions of $) Superland 1995 500 1996 600 Year Funland 1995 1,000 1996 1,500 Population 10,000 12,000 Price Index: GDP Deflator 104 115 20,000 167 21,000 231 Refer to information in Table 10.2. What is true about the standard of living and inflation rates in Superland compared to Funland from 1995 and 1996? Both the standard of living and the inflation rate are higher in Superland. Both the standard of living and the inflation rate are higher in Funland. The standard of living is higher in Superland; the inflation rate is higher in Funland O The standard of living is higher in Funland; the inflation rate is higher in Suprland
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