Multiple Choice
A country reported nominal GDP of $100 billion in 2006 and $75 billion in 2005;it reported a GDP deflator of 125 in 2006 and 120 in 2005.Between 2005 and 2006,
A) real output and the price level both rose.
B) real output rose and the price level fell.
C) real output fell and the price level rose.
D) real output and the price level both fell.
Correct Answer:
Verified
Correct Answer:
Verified
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