Business, 15.04.2020 04:14, leahpartaka03

Suppose that the GDP deflator grew by 10 percent from last year to this year. That is, the inflation rate this year was 10 percent. This means that overall: real GDP in the economy has risen by 10 percent. real GDP and prices both rose by 10 percent. prices in the economy have risen by 10 percent. output in the economy rose by 10 percent. This inflation rate implies that the growth rate in real GDP was 10 percent: more than the growth rate in nominal GDP. more than the growth rate in inflation. less than the growth rate in inflation. less than the growth rate in nominal GDP.

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Suppose that the GDP deflator grew by 10 percent from last year to this year. That is, the inflation...