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Item Price Year 1 Price Year 2 Quantity Produced A $100 $105 4 B $100 $110 2 C $100 $95 1 A nation produces three
Item Price Year 1 Price Year 2 Quantity Produced
A $100 $105 4
B $100 $110 2
C $100 $95 1
A nation produces three products, A, B, and C. Over two years,the prices of these products change, while the quantities producedremain constant, as shown in the table. Over this period, thenation's nominal GDP increased by 5 percent. The nation's real GDPchanged by approximately...
a. -2 percent
b. 2 percent
c. 3 percent
d. 0 percent
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