Multiple Choice
A country reported nominal GDP of $100 billion in 2010 and $75 billion in 2009.It also reported a GDP deflator of 125 in 2010 and 120 in 2009.Between 2009 and 2010,
A) real output and the price level both rose.
B) real output rose and the price level fell.
C) real output fell and the price level rose.
D) real output and the price level both fell.
Correct Answer:
Verified
Correct Answer:
Verified
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