If the nominal GDP is $12,000 in 2005 and $15,000 in 2006, and if inflation is 10% between these years, then
a. employment fell between 2005 and 2006.
b. real GDP fell between 2005 and 2006.
c. real GDP rose between 2005 and 2006.
d. the economy experienced no growth between these years.
e. everyone is rich now than they were before.
B
Economics
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