Which Statement Best Describes the Evolution of the Price Level

question 7

Multiple Choice

Which statement best describes the evolution of the price level in Canada?

• A) The price level rose at an average annual rate of about 2 percent over the past 70 years.
• B) The price level has increased about 12-fold over the past 70 years.
• C) The price level increased in the 1970s at a rate above the average of the past 70 years.
• D) The price level has never decreased over the past 70 years.

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Definitions:

Distal

A term used to describe a location farther from the point of origin or attachment, often used in anatomy to describe the position of body parts.

Negative Feedback

A regulatory mechanism in which a stimulus causes an opposite output in order to maintain an optimal level of whatever is being regulated.

Effector

An organ or cell that acts in response to a stimulus, often referring to muscles or glands responding to neural signals.

Stimulus

A stimulus is any external or internal change that influences the activity of an organism or any of its parts, leading to a physiological response.