Suppose both nominal GDP rises by 10 percent and real GDP rise by 2 percent. What has happened to the general price level? What is the inflation rate? Show your calculation.
Suppose both nominal GDP rises by 10 percent and real GDP rise by 2 percent. What has happened to the general price level? What is the inflation rate? Show your calculation.
Chapter13: Inflation
Section: Chapter Questions
Problem 8SQP
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Suppose both nominal GDP rises by 10 percent and real GDP rise by 2
percent. What has happened to the general price level? What is the inflation
rate? Show your calculation.
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