Consider a Nation in Which the Price Index Was 150

question 164

Multiple Choice

Consider a nation in which the price index was 150 last year and this year it is 130.Which statement is correct?

• A) Inflation was 20 percent this year.
• B) Deflation was 20 percent this year.
• C) Housing prices must have fallen.
• D) Inflation was 13.33 percent this year.
• E) Deflation was 13.33 percent this year.

---

Definitions:

Revenue

The total amount of income generated by the sale of goods or services related to the company's primary operations.

API Gravity

A measure used to determine how heavy or light a petroleum liquid is compared to water.

Oil Quality

A measure of the chemical and physical properties of an oil, indicating its suitability for specific uses or processes based on standards or specifications.

Price

The amount of money required to purchase a good, service, or asset.