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Assume an Economy Which Is Producing Only One Product

Question 167

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Assume an economy which is producing only one product.Output and price data for a three-year period are as follows.
Assume an economy which is producing only one product.Output and price data for a three-year period are as follows. -Refer to the above data.The nominal GDP for year 3 is: A) 125 percent higher than the nominal GDP for year 1. B) 50 percent higher than the nominal GDP for year 1. C) 120 D) 30
-Refer to the above data.The nominal GDP for year 3 is:


A) 125 percent higher than the nominal GDP for year 1.
B) 50 percent higher than the nominal GDP for year 1.
C) 120
D) 30

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