History, 30.05.2020 23:02 joshua1255

Suppose the nominal GDP for year A is $500,000 and the nominal GDP for the same economy in year B is $400,000. The real GDP for year A is $500,000, and the real GDP for year B is $500,000. The same amount of goods and services were produced each year. What happened to the prices of goods and services between year A and year B? Explain

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Suppose the nominal GDP for year A is $500,000 and the nominal GDP for the same economy in year B is...