What most accurately describes the trend in the Gross Domestic Product of the US between 1870 and 2007?
A) Real GDP increased by about two percent per year.
B) Although nominal GDP increased significantly, real GDP went up only slightly because of inflation.
C) Both nominal and real GDP have been flat because the periods of inflation were offset by the periods of deflation.
D) The fluctuations in GDP have become greater over time, and were largest in the late 1900s.
Correct Answer:
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