1. Which of the following is true of real GDP? I. It is adjusted for changes in...
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1. Which of the following is true of real GDP?
I. It is adjusted for changes in prices.
II. It is always equal to nominal GDP.
III. It increases whenever aggregate output increases.
a. I only
b. II only
c. III only
d. I and III
e. I, II, and III
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