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dnorris0031 dnorris0031
  • 28-01-2017
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Answered

Did real GDP increase or decrease from 2012 to 2013? If it decreased, explain why. If it increase explain why.

Verified Answer :

QuangPhu
QuangPhu QuangPhu
  • 28-01-2017

It's increase because GDP will include all of the changes in market prices that have occurred during the current year due to inflation or deflation. Inflation is defined as a rise in the overall price level, and deflation is defined as a fall in the overall price level.

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