Use the Following to Answer Questions: Table: Inflation in Poland

question 228

Multiple Choice

Use the following to answer questions: Table: Inflation in Poland $$\begin{array} { l c } \hline \text { Year } & \text { Inflation Rate (Annual \% Change) } \\\hline 1985 & 15.1 \% \\1990 & 585.8 \% \\1999 & 7.3 \% \\2002 & 1.9 \% \\2003 & 0.8 \% \\\hline\end{array}$$ Source: International Monetary Fund (www.imf.org)
-(Table: Inflation in Poland) This table shows actual inflation data for different periods in Poland. Which year was deflationary?

• A) 1990
• B) 1999
• C) 2003
• D) No year was deflationary.

---

Definitions:

Variable Costs

Charges that fluctuate in accordance with the amount of output.

Average Price

The mean price of a good or service calculated by dividing the total cost by the number of units sold.

Variable Costs

Costs that vary with the level of output produced.

Fixed Costs

Business expenses that remain constant regardless of the level of production or sales.