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If Nominal GDP Increases by 3 Percent from 2004 to 2005

Question 104

Multiple Choice

If nominal GDP increases by 3 percent from 2004 to 2005 and real GDP increases by 5 percent from 2004 to 2005,this indicates that

A) depreciation occurred
B) taxes increased
C) the inflation rate decreased
D) the price level decreased
E) output decreased

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