Multiple Choice
A country reported a nominal GDP of $85 billion in 2005 and $100 billion in 2004;it reported a GDP deflator of 100 in 2005 and 105 in 2004.Between 2004 and 2005,
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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