If the Price Level Was 100 in 2014 and 102

question 5

Multiple Choice

If the price level was 100 in 2014 and 102 in 2015,the inflation rate was

• A)102%.
• B)20%.
• C)2%.
• D)0)2%.

---

Definitions:

Peripheral Nations

Countries that are less economically developed and often depend on core nations for capital and are exploited for labor and raw materials.

Globalization

Increased economic, political, and social interconnectedness and interdependence among societies in the world.

Per Capita GNI

A measure of a country's economic output that accounts for its number of people; it divides the gross national income by the population size.

Cash Economy

An economic system where transactions are conducted with the direct exchange of physical currency, as opposed to digital or credit transactions.