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Which one of the following statements is INCORRECT? Select one: A. If total nominal output increases by 2% during a specific year, and the general
Which one of the following statements is INCORRECT? Select one: A. If total nominal output increases by 2% during a specific year, and the general price level increases by 4%, the real GDP will decrease, and the nominal GDP will increase. B. An increase of 20% in the price of cabbage is an example of inflation. C. If the population in South Africa grows at 5% per year, and the economic growth rate is 3% per year, a decline in the real GDP per capita occurs. D. If a country's labour force is 32 million and 6.4 million are unemployed for a period, then the unemployment rate is 20%
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