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9. Consider an imaginary country of Economistan. The government of Economistan reports that between 1950 and 2000, nominal GDP has doubled. Yet, each resident of

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9. Consider an imaginary country of Economistan. The government of Economistan reports that between 1950 and 2000, nominal GDP has doubled. Yet, each resident of Economistan says that he/she is worse off in 2000 than in 1950. List and briefly explain two reasons why this might be the case

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