Exhibit 3-11 -Refer to Exhibit 3-12. Fill in Blanks (E)and (F)respectively with Blanks

question 211

Multiple Choice

Exhibit 3-11

-Refer to Exhibit 3-12. Fill in blanks (E) and (F) respectively with the market quantity supplied at given each price.

• A) 24.75; 32.75
• B) 47; 52
• C) 99; 131
• D) 48; 65
• E) none of the above

---

Definitions:

Inflation

Economic situation characterized by rising prices caused by a combination of excess consumer demand and increases in the costs of raw materials, component parts, human resources, and other factors of production.

Consumer Price Index (CPI)

Measurement of the monthly average change in prices of goods and services.

Energy And Food Prices

The costs associated with obtaining and consuming energy resources and food commodities, which can significantly impact economic conditions and living standards.

Economic Depression

A prolonged period of significant decline in economic activity across an economy, characterized by high unemployment rates, low output, and a contraction in spending and investment.