Question 32 If you are told that a country's nominal GDP decreased and its real GDP decreased over the same block of time, which of the following can you conclude with certainty? o The economy had...

Extracted text: Question 32 If you are told that a country's nominal GDP decreased and its real GDP decreased over the same block of time, which of the following can you conclude with certainty? o The economy had inflation. O None of the choices listed is correct since none can be concluded with certainty. o The economy's price level remained constant. O The economy had disinflation o The economy had deflation. Question 33 Assume the economy of a trading partner enjoys a high rate of growth, interest rates in the economy decrease, and there is an improvement in productivity. Which of the following is correct? o The equilibrium price level will definitely decrease. O The equilibrium price level will definitely increase. o The equilibrium real GDP will definitely decrease. O The equilibrium real GDP will definitely increase.