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Loraine Loraine
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8 years ago
If both the production of goods and services increase and prices rise, then the change in nominal GDP
A) definitely understates the change in production.
B) definitely accurately reflect the change in production.
C) definitely overstates the change in production.
D) either understates or might accurately reflect the change in production.
E) More information is needed to determine how the change in nominal GDP compares to the change in production.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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Chimelo46Chimelo46
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8 years ago
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#2
8 years ago
The textbook reference in your signature really helped me narrow it down.

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