If the Price Level in Any Country Increases by 15

question 38

True/False

If the price level in any country increases by 15 percent during a year, then the price index for that year will be 85 as compared to the base year.

---

Definitions:

Worst Recession

Refers to the most severe period of economic decline in activity across an economy, lasting more than a few months.

World's Leading Industrial Power

A country that dominates global manufacturing output, characterized by its advanced technological capability and extensive industrial infrastructure.

Consumer Market

A marketplace where individuals or households purchase goods and services for personal consumption.

Main Crops

Primary agricultural products that are extensively cultivated in a region.