Bobby was researching the economic growth of a country between 2006 and 2011.Using 2006 as the base year,he calculated a twelve percent increase for real GDP and a ten percent increase for nominal GDP.His results indicate that

Question

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A 12 percent increase in real GDP means that the quantity of goods and services produced has increased, while a 10 percent increase in nominal GDP can be attributed to both an increase in quantity and an increase in prices. Therefore, the results indicate that the quantity of goods and services produced increased and prices decreased over the period.

Bobby Was Researching the Economic Growth of a Country Between