Suppose nominal GDP increased by 4 percent and increases in real GDP remained constant.How much did prices increase?

Name: Suppose nominal GDP increased by 4 percent and increases in real GDP remained constant.How much did prices increase?
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Quizplus · Accepted Answer

If nominal GDP increased by 4 percent and real GDP remained constant, the increase in nominal GDP is solely due to the increase in prices, which means prices increased by 4 percent.

Suppose Nominal GDP Increased by 4 Percent and Increases in Real