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Question: question 2 if nominal gdp is 12000 billion and the...

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Question 2

If Nominal GDP is $12,000 billion and the GDP deflator is 80, then Real GDP is ________.

a) $15,000 billion

b) $9,600 billion

c) $21,600 billion

Question 3

If inflation occurs in a given year,

a) the change in the real measurement (GDP) would be equal to the change in the nominal one.

b) the change in the real measurement (GDP) would be greater than the change in the nominal one.

c) the change in the real measurement (GDP) would be smaller than the change in the nominal one.

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