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Real gross domestic product (GDP) is equal to current prices current output. base year prices base year output. current prices base year output....

1.Real gross domestic product (GDP) is equal to


current prices ´ current output.

base year prices ´ base year output.

current prices ´ base year output.

current output / base year prices.

base year prices ´ current output.


2.What does the fact that most countries' economies lie near the straight, slanting line in the graph below indicate?


It is very difficult for a government to shift the inflation rate away from its natural level.

Most countries exercise tight control over their money supplies.

In most countries, the inflation rate is very low.

The size of the money supply is determined almost entirely by the movement of prices.

The rate at which prices rise is closely tied to the rate of money supply expansion.

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