Suppose That in 2011 Nominal GDP Increased and Real GDP

question 52

Multiple Choice

Suppose that in 2011 nominal GDP increased and real GDP decreased relative to the year 2010. It can be concluded that:

• A)​the economy experienced inflation and the total production of goods and services increased.
• B)​the economy experienced deflation and the total production of goods and services increased.
• C)​the economy experienced inflation and the total production of goods and services decreased.
• D)​the economy experienced deflation and the total production of goods and services decreased.

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