If There Are Only Two Goods in the Economy, One

question 195

Multiple Choice

If there are only two goods in the economy, one whose price rises by 1 percent and one by 6 percent, it is possible that inflation is:

• A)1 percent.
• B)2 percent.
• C)6 percent.
• D)7 percent.

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Definitions:

Lacking Initiative

The absence or deficiency in the willingness to take actions or steps towards achieving goals without being prompted by others.

Competence Development

The process of acquiring and developing the skills and knowledge necessary to perform effectively.

Physical Skills

Abilities that involve the use and coordination of one's bodily movements and strength, often developed through practice and training.

Language Skills

Denotes the capacity to use language effectively for communication, which includes speaking, listening, reading, and writing.