The price level grew slightly faster than real GDP between 1947 and 2011. Does this mean that

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The price level grew slightly faster than real GDP between 1947 and 2011. Does this mean that the rising price level masked an actual decline in output? Why or why not?

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Economics A Contemporary Introduction

ISBN: 9781305505469

11th Edition

Authors: William A. McEachern

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Question Posted: Oct 07, 2023 11:38 PM

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The price level grew slightly faster than real GDP between 1947 and 2011. Does this mean that

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No there was an actual increase in aggregate output b...View the full answer

Economics A Contemporary Introduction

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