Multiple Choice
If real GDP falls by 1 percent,but the nominal GDP rises by 5 percent,then we must conclude that
A) the price level rises by 5 percent.
B) the price level falls by 1 percent.
C) the price level rises by 6 percent.
D) the price level falls by 4 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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