During the late 1990s, Japan experienced reductions in the GDP deflator. Given this information, we know with certainty that
A. real GDP fell during these periods.
B. real GDP did not change during these periods.
C. the overall price level in Japan decreased during these periods.
D. both real GDP and the overall price level decreased during these periods.
Answer:C
During the late 1990s, Japan experienced reductions in the GDP deflator. Given this information, we know with certainty that
A. real GDP fell during these periods. B. real GDP did not change during these periods. C. the overall price level in Japan decreased during these periods. D. both real GDP and the overall price level decreased during these periods.