Refer to the following table, what has happened in the economy from 2008 to 2009?
2008 | 2009 | |
Nominal GDP | $10,000 | $12,000 |
Real GDP | $9,500 | $10,500 |
The price level has risen. |
The price level remained constant. |
The price level has fallen. |
Not enough information is availalble to determine what has happened to prices. |
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