Between 1945 and 1950, the U.S. price level rose by one-third. This in
Between 1945 and 1950, the U.S. price level rose by one-third. This increase was complemented by which of the following?
(a) An increase in nominal and real GDP
(b) An increase in nominal GDP but a decrease in real GDP
(c) An increase in real GDP but a decrease in nominal GDP
(d) Stable nominal and real GDP
ANSWER
(b)
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