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QUESTION
Price Levels 110, 100, 95, 90 (in order) Real GDP 285, 260, 235, 210 (in order) Assuming no change in hours of work, if real output per hour of work
Price Levels 110, 100, 95, 90 (in order) Real GDP 285, 260, 235, 210 (in order)
Assuming no change in hours of work, if real output per hour of work decreases by 5 percent, what will be the new levels of real GDP? Round Answers to 2 decimal places.
