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Suppose a small economy produces only smart TVs. In year one, 10,000 TVs are produced and sold at a price of $1,000 each. In year
Suppose a small economy produces only smart TVs. In year one, 10,000 TVs are produced and sold at a price of $1,000 each. In year two, 10,000 TVs are produced and sold at a price of $1,500 each. As a result, Multiple Choice O real GDP increased. O real GDP decreased. O real GDP stayed the same O nominal GDP stayed the same
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