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A Country Reported a Nominal GDP of $100 Billion in 2020

Question 147

Multiple Choice

A country reported a nominal GDP of $100 billion in 2020 and $75 billion in 2019 and reported a GDP deflator of 125 in 2020 and 120 in 2019. What happened to real output and prices from 2019 to 2020?


A) Real output and prices both rose.
B) Real output rose and prices fell.
C) Real output fell and prices rose.
D) Real output and prices both fell.

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