A country reported nominal GDP of $35 billion in 2016 and $55 billion in 2015. It also reported a GDP deflator of 105 in 2016 and 115 in 2015. Between 2015 and 2016,
A) real output and the price level both fell.
B) real output fell and the price level rose.
C) real output rose and the price level fell.
D) real output and the price level both rose.
Correct Answer:
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Q208: If real GDP doubles and the GDP
Q209: Table 23-3
The following table reports nominal
Q210: If total spending rises from one year
Q211: Table 23-2
The following table contains data
Q212: The term economists use to describe a
Q214: Table 23-2
The following table contains data
Q215: When economists talk about growth in the
Q216: The percentage change in the price level
Q217: If in some year nominal GDP was
Q218: The GDP deflator is the ratio of
A)real
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