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Principles of Economics (MindTap C...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305585126
BuyFind

Principles of Economics (MindTap C...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305585126

Solutions

Chapter
Section
Chapter 23, Problem 6CQQ
Textbook Problem

If all quantities produced rise by 10 percent and all prices fall by 10 percent, which of the following occurs?

a. Real GDP rises by 10 percent, while nominal GDP falls by 10 percent.

b. Real GDP rises by 10 percent, while nominal GDP is unchanged.

c. Real GDP is unchanged, while nominal GDP rises by 10 percent.

d. Real GDP is uncharged, while nominal GDP falls by 10 percent.

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Chapter 23 Solutions

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