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Economics 14th Edition by James Gwartney,Richard Stroup, Russell Sobel ,David Macpherson
Edition 14ISBN: 978-1133561644Economics 14th Edition by James Gwartney,Richard Stroup, Russell Sobel ,David Macpherson
Edition 14ISBN: 978-1133561644 Exercise 1
If nominal GDP increased by 6 percent during a year, while the GDP deflator increased by 4 percent, by how much did real GDP change during the year?
Explanation
Verified
Verified
Given,
Increase in nominal GDP = 6 perce...
Economics 14th Edition by James Gwartney,Richard Stroup, Russell Sobel ,David Macpherson
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