In a Particular Economy,the Price Index Was 120 in 2012

question 4

Multiple Choice

In a particular economy,the price index was 120 in 2012 and 130 in 2013.Which of the following statements is correct?

• A)The economy experienced a rising price level between 2012 and 2013.
• B)The economy experienced a higher inflation rate between 2012 and 2013 than it had experienced between 2011 and 2012.
• C)The inflation rate between 2012 and 2013 was 10 percent.
• D)The base year is 2011.

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