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Retnec Retnec
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6 years ago
Suppose that an economy produces only wheat, and that between 1998 and 2008 the money GDP of that economy doubled. It could be concluded that
A) the price of wheat had increased.
B) the price index (using 1998 as a base year) had doubled.
C) the number of tons of wheat produced by the economy had doubled.
D) the total market value of the wheat produced by the economy had doubled.
E) consumers were substantially better off in 2008 than they had been in 1998 (provided they like wheat).
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
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hecosmetichecosmetic
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6 years ago
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Retnec Author
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6 years ago
You make an excellent tutor!
Marctheshark
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Yesterday
Brilliant ツ
jakechambo3
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2 hours ago
Thanks
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