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An imaginary economy of Bluebell provided the following data: Nominal GDP in 2018 = $115 billion Nominal GDP in 2017 = $125 billion GDP deflator

An imaginary economy of Bluebell provided the following data: Nominal GDP in 2018 = $115 billion Nominal GDP in 2017 = $125 billion GDP deflator in 2018 = 85 GDP deflator in 2017= 100 Between 20017 and 2018, a. real output increased and the price level decreased. b. real output decreased and the price level increased. c. real output and the price level both decreased. d. real output and the price level both increased

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