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Economics 10th Edition by William McEachern
Edition 10ISBN: 978-1133188124Economics 10th Edition by William McEachern
Edition 10ISBN: 978-1133188124 Exercise 13
Case Study: Eight Decades of Real GDP and Price Levels
The price level grew slightly faster than real GDP between 1947 and 2011. Does this mean that the rising price level masked an actual decline in output? Why or why not?
The price level grew slightly faster than real GDP between 1947 and 2011. Does this mean that the rising price level masked an actual decline in output? Why or why not?
Explanation
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Real GDP:
The term real GDP refers to t...
Economics 10th Edition by William McEachern
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