Multiple Choice
A country reported a nominal GDP of $115 billion in 2020 and $125 billion in 2019 and reported a GDP deflator of 85 in 2020 and 100 in 2019. What happened to real output and prices from 2019 to 2020?
A) Real output and prices both rose.
B) Real output fell and prices rose.
C) Real output rose and prices fell.
D) Real output and prices both fell.
Correct Answer:
Verified
Correct Answer:
Verified
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