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1. If nominal GDP rose by 12% and the general price level increased by 5%, then what would be the change in real GDP? 2.

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1. If nominal GDP rose by 12% and the general price level increased by 5%, then what would be the change in real GDP? 2. What scenario would this be? Boom, Bust, Stagflation or Supply side economic expansion? Why? 3. Which curve would shift predominantly, the aggregate demand curve or the aggregate supply curve and in which direction? Edit View Insert Format Tools Table

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