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Suppose nominal GDP increased in a given year. Based on this information, we kno...

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Suppose nominal GDP increased in a given year. Based on this information, we know with certainty that

the price level (GDP deflator) has increased.

0%

on that year either real output or the price level (GDP deflator), or even both, have increased.

100%

real output and the price level (GDP deflator) have both increased.

0%

real output has increased.

0%

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