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Japan Experienced Periods of Deflation-A Declining Price Level-During the 1990s

Question 251

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Japan experienced periods of deflation-a declining price level-during the 1990s.During a deflationary period,which would be higher: nominal GDP or real GDP? Why? Assume that the base year of choice is prior to the deflationary period.

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Real GDP would be higher,as long as the ...

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