Suppose nominal GDP in 2013 increased by 8% (over its previous level in 2012). Given this information, we know that the GDP deflator increased during 2013. only prices increased in 2013. either output or prices increased in 2013. both the GDP deflator and real GDP increased during 2013. real GDP increased during 2013.

Suppose nominal GDP in 2013 increased by 8% (over its previous level in 2012). Given this information, we know that the GDP deflator increased during 2013. only prices increased in 2013. either output or prices increased in 2013. both the GDP deflator and real GDP increased during 2013. real GDP increased during 2013.

Survey of Economics (MindTap Course List)

9th Edition

ISBN:9781305260948

Author:Irvin B. Tucker

Publisher:Irvin B. Tucker

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 8SQP

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