The price level grew slightly faster than real GDP between 1947 and 2014. Does this mean that

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The price level grew slightly faster than real GDP between 1947 and 2014. Does this mean that the rising price level masked an actual decline in output? Why or why not?

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Macroeconomics A Contemporary Introduction

ISBN: 9781305505490

11th Edition

Authors: William A. McEachern

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Question Posted: Oct 10, 2023 10:47 AM

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The price level grew slightly faster than real GDP between 1947 and 2014. Does this mean that

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No there was an actual increase in aggregate output b...View the full answer

Macroeconomics A Contemporary Introduction

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