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A country reported a nominal GDP of $115 billion in 2012 and $125 billion in 2011 and reported a GDP deflator of 85 in 2012

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A country reported a nominal GDP of $115 billion in 2012 and $125 billion in 2011 and reported a GDP deflator of 85 in 2012 and 100 in 2011. What happened to real output and prices from 2011 to 2012? Select one: a. Real output rose and prices fell. O b. Real output fell and prices rose. O c. Real output and prices both rose. d. None of the other choices are correct 'O e. Real output and prices both fell. Next page ge

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