In 1984,the base year,GDP was 3000.In 1988 the GDP deflator was 98.We may conclude that
A) there was some inflation between 1984 and 1988.
B) there was some deflation between 1984 and 1988.
C) real GDP declined between 1984 and 1988.
D) GDP declined between 1984 and 1988.
Correct Answer:
Verified
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