The Inflation Rate Is A

question 43

Multiple Choice

The inflation rate is a:

• A) percentage decrease in price level.
• B) percentage increase in price level.
• C) sustained increase in relative prices.
• D) sustained decrease in relative prices.
• E) sudden increase in the weighted average of all prices.

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Definitions:

Marginal Cost

The price of generating an extra unit of a good or service.

Gallons

A unit of volume for liquid measure equal to four quarts, used in both the US customary and British imperial systems.

Cereal

Grain-based food typically eaten as breakfast, made from processed grains and often fortified with vitamins and minerals.

Secondary Effect

The indirect consequences or impacts of an action or policy that may not be immediately apparent.