From 1970 until 1980 real GDP grew at a slower rate than nominal GDP. The reason for this difference in growth rates was that: the price level rose. imports for foreign nations rose much more rapidly than exports. technological progress slowed during the 1970s compared to the 1960s. the 1970s had more recessions than the previous decades. Choose the most correct answer by clicking a button, or by typing a letter from the keyboard and pressing the tab key.