Business, 21.02.2020 23:17 gungamer720

In the base year in a small island macroeconomy, nominal GDP was $400m. In a later year when the general level of all prices was twice as high, nominal GDP reached $1000m. Between the base year and the later year: A. Real GDP declined. B. There was real GDP growth by more than 100% C. There was real GDP growth, but by less than 100% D. Inflation occurred.

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In the base year in a small island macroeconomy, nominal GDP was $400m. In a later year when the gen...

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