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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.
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.
larryrambo777Lv10
26 Mar 2023
Jamar FerryLv2
7 Dec 2018
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