Multiple Choice
Suppose nominal GDP increased in a given year.Based on this information,we know with certainty that
A) real output has increased.
B) the price level (GDP deflator) has increased.
C) real output and the price level (GDP deflator) have both increased.
D) either real output or the price level (GDP deflator) have increased.
E) real output has increased and the price level has decreased.
Correct Answer:
Verified
Correct Answer:
Verified
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