A Country Reported a Nominal GDP of $85 Billion in 2020

question 109

Multiple Choice

A country reported a nominal GDP of $85 billion in 2020 and $100 billion in 2019 and reported a GDP deflator of 100 in 2020 and 105 in 2019. What happened to real output and prices from 2019 to 2020?

• A) Real output and prices both rose.
• B) Real output rose and prices fell.
• C) Real output and prices both fell.
• D) Real output fell and prices rose.

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