Multiple Choice
What occurred during 2012 if nominal GDP increased and real GDP decreased,relative to the year 2011?
A) The economy experienced deflation during 2012.
B) Production of intermediate goods and services in the economy increased during 2012.
C) The economy experienced inflation during 2012.
D) Total production of goods and services in the economy increased during 2012.
Correct Answer:
Verified
Correct Answer:
Verified
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