Question

Refer to the following table, what has happened in the economy from 2008 to 2009? 2008...

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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