Assume that you are told a country’s nominal GDP decreased from one year to the next. All of the following could have occurred, except one. Which one? Output increased and the price level decreased. Output decreased and the price level decreased. Output decreased and the price level remained constant. Output increased and the price level increased. Output remained constant and the price level decreased. Output decreased and the price level increased
Assume that you are told a country’s nominal GDP decreased from one year to the next. All of the following could have occurred, except one. Which one? Output increased and the price level decreased. Output decreased and the price level decreased. Output decreased and the price level remained constant. Output increased and the price level increased. Output remained constant and the price level decreased. Output decreased and the price level increased
Chapter13: Inflation
Section: Chapter Questions
Problem 6SQ
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Assume that you are told a country’s nominal
Output increased and the price level decreased.
Output decreased and the price level decreased.
Output decreased and the price level remained constant.
Output increased and the price level increased.
Output remained constant and the price level decreased.
Output decreased and the price level increased.
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