II NGDP in the base year and RGDP in the current are equal, then Oa. There has been inflation or deflation Ob. There has been deflation only Oc There has been inflation only Od. The GDP deflator must be equal to 1
II NGDP in the base year and RGDP in the current are equal, then Oa. There has been inflation or deflation Ob. There has been deflation only Oc There has been inflation only Od. The GDP deflator must be equal to 1
Chapter19: Measuring Economic Performance
Section: Chapter Questions
Problem 7P
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