If real GDP falls from one period to another, we can conclude that
A)deflation occurred.
B)inflation occurred.
C)nominal GDP fell.
D)none of these necessarily occurred.

Name: If real GDP falls from one period to another, we can conclude that A)deflation occurred. B)inflation occurred. C)nominal GDP fell. D)none of these necessarily occurred.
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Question

Quizplus · Accepted Answer

Real GDP can fall due to a decrease in the quantity of goods and services produced, regardless of changes in price levels or nominal GDP.

If Real GDP Falls from One Period to Another, We