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Retnec Retnec
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7 years ago
Nominal GDP was $2 billion in year 1 and $2.4 billion in year two. Prices increased between year 1 and year 2. We can say that
A) real GDP clearly increased between year 1 and year 2.
B) real GDP clearly decreased between year 1 and year 2.
C) real GDP increased if prices went up by less than 20 percent.
D) real GDP increased if prices went up by more than 20 percent.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
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VilaVila
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Retnec Author
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#2
7 years ago
You have the correct answer! Smiling Face with Halo
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