If the inflation rate is 10% and nominal GDP growth is 8% then real GDP must have
A) increased by 2%.
B) decreased by 18%.
C) decreased by 2%.
D) increased by 18%.
Correct Answer:
Verified
Q62: At any point on the current SP
Q63: The "long-run Phillips Curve" is the set
Q64: Figure 8-6 Q65: Figure 8-6 Q66: The SP curve shifts downward when Q68: The short-run equilibrium of inflation and real Q69: The economy is in long-run equilibrium Q70: If nominal GDP growth has accelerated permanently Q71: The growth of nominal GDP Q72: Along the SP curve with expected inflation
A)the average
A)at any
A)can be broken
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