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A Country Reported a Nominal GDP of $100 Billion in 2020

question 147

Multiple Choice

A country reported a nominal GDP of $100 billion in 2020 and $75 billion in 2019 and reported a GDP deflator of 125 in 2020 and 120 in 2019. What happened to real output and prices from 2019 to 2020?


Definitions:

Cultures

The shared practices, values, beliefs, institutions, and objects of groups of people that are passed down from generation to generation.

Infants

Very young children, especially those under one year of age, who are in the early stages of development.

Syntax

The set of rules that govern the structure of sentences in a language, dictating how words are combined to convey meaning.

Declarative Sentence

A type of sentence that makes a statement or assertion, often used to convey information or express an opinion.

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