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Given the following info, calculate the rate of increase in the price level (inflation) from Year 2008 to 2009.
Year
2008
2009
Real GDP
$9,500
Nominal GDP
$10,000
$12,000
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1.nbspnbsp briefly define the following termsa.nbspnbspnbsp potential gdpb.nbspnbspnbsp long-run aggregate
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