Suppose nominal GDP in 2013 increased by 8% (over its previous level in 2012). Given this information, we know that the GDP deflator increased during 2013. only prices increased in 2013. either output or prices increased in 2013. both the GDP deflator and real GDP increased during 2013. real GDP increased during 2013.
Suppose nominal GDP in 2013 increased by 8% (over its previous level in 2012). Given this information, we know that the GDP deflator increased during 2013. only prices increased in 2013. either output or prices increased in 2013. both the GDP deflator and real GDP increased during 2013. real GDP increased during 2013.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section7.4: Real Gdp
Problem 2ST
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![Suppose nominal GDP in 2013 increased by 8% (over its previous level in 2012).
Given this information, we know that
the GDP deflator increased during 2013.
only prices increased in 2013.
either output or prices increased in 2013.
both the GDP deflator and real GDP increased during 2013.
real GDP increased during 2013.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbb2b99d5-b579-4c89-93bf-212f41d23a4b%2F7a5603bc-941b-4a38-b183-654977f77011%2Fgqvajs_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose nominal GDP in 2013 increased by 8% (over its previous level in 2012).
Given this information, we know that
the GDP deflator increased during 2013.
only prices increased in 2013.
either output or prices increased in 2013.
both the GDP deflator and real GDP increased during 2013.
real GDP increased during 2013.
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