Multiple Choice
A country reported a nominal GDP of $100 billion in 2015 and $75 billion in 2014 and reported a GDP deflator of 125 in 2015 and 120 in 2014.What happened to real output and prices from 2014 to 2015?
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.
Correct Answer:
Verified
Correct Answer:
Verified
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