In a Particular Economy,the Price Index Was 270 in 2005

question 157

Multiple Choice

In a particular economy,the price index was 270 in 2005 and it was 300 in 2006 .Which of the following statements is correct?

• A)The economy experienced a rising price level between 2005 and 2006.
• B)The economy experienced a higher inflation rate between 2005 and 2006 than it had experienced between 2004 and 2005.
• C)The inflation rate between 2005 and 2006 was 30 percent.
• D)All of the above are correct.

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Definitions:

Self-efficacy

Someone's trust in their own skill to perform tasks needed for certain achievements.

Competence

The ability to do something successfully or efficiently, often referring to a specific skill set or knowledge area.

Intrinsic Motivation

the drive to engage in an activity for its own sake, deriving pleasure and satisfaction from the activity itself rather than from any external rewards.

Extrinsic Motivation

Inspiration fueled by outside incentives like financial gain, celebrity status, academic marks, and commendations.