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Suppose That Nominal GDP Is $1,000 in 2009 and $1,500

Question 165

Multiple Choice

Suppose that nominal GDP is $1,000 in 2009 and $1,500 in 2010. If the overall price level _____ between 2009 and 2010, we could say that real GDP _____.


A) increased by 50%; stayed constant
B) increased by less than 50%; decreased
C) increased by more than 50%; increased
D) increased by 50%; increased

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