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MMLU / Suppose the price level in the United States has risen in the past year but…

Problem

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question

Suppose the price level in the United States has risen in the past year but production of goods and services has remained constant. Based on this information which of the following is true? NOMINAL GDP     REAL GDP

choices

  1. Increased     Increased
  2. No change     Decreased
  3. Decreased     Decreased
  4. Increased     Decreased

subject

high_school_macroeconomics

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Source and history

Official source

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