Question
Suppose an economy produces only two goods: Apples and Bananas in both Year 1 and Year 2. Is it possible for Real GDP of this
Suppose an economy produces only two goods: Apples and Bananas in both Year 1 and Year 2.
Is it possible for Real GDP of this country to increase between Year 1 and Year 2, while the Nominal GDP decreases or remains the same?
if your answer is yes, construct a numerical example demonstrating this.
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The Americans An Economic Record An Economic Record
Authors: Stanley Lebergott
1st Edition
0393953114, 9780393953114
