5. GNP may increase because of an increase in either output or prices. Price indices are used...

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5. GNP may increase because of an increase in either output or prices. Price indices are used to measure the impact of price changes. Real GNP can be determined by adjusting money GNP to account for price changes between periods.

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Economics Private And Public Choice

ISBN: 9780123110404

2nd Edition

Authors: James D Gwartney; Richard Stroup; A H Studenmund

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