GDP in 1981 was $2.96 trillion. It grew to $3.07 trillion in 1982, yet the quantity of

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GDP in 1981 was $2.96 trillion. It grew to $3.07 trillion in 1982, yet the quantity of output actually decreased.How is this possible?

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The Macro Economy Today

ISBN: 978-1259291821

14th edition

Authors: Bradley R. Schiller, Karen Gebhardt

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Question Posted: May 03, 2018 08:10 AM

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GDP in 1981 was $2.96 trillion. It grew to $3.07 trillion in 1982, yet the quantity of

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Prices rose in 1982 by an amount that o...View the full answer

The Macro Economy Today

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