In Figure 5.2, the fact that real GDP is greater than nominal GDP during the 1960-1980 periods implies thatÂ
A. Per capita GDP must have increased.
B. Production must have decreased during this period.
C. Average price levels must have decreased during this period.
D. Average price levels during this period must have been lower than during the base period.
Answer: D
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How are net exports and the government sector balance linked?
What will be an ideal response?
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Indicate whether the statement is true or false