The Price Index in the First Year Is 150;in the Second

question 118

Multiple Choice

The price index in the first year is 150;in the second year it is 160;and in the third year it is 165.Which of the following statements is correct?

• A)The price level was higher in the second year than in the first year, and it was higher in the third year than in the second year.
• B)The inflation rate was positive between the first and second years, and it was positive between the second and third years.
• C)The inflation rate was lower between the second and third years than it was between the first and second years.
• D)All of the above are correct.

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Definitions:

Unequal Portions

Divisions or allocations of a whole into parts that are not of equal size or value.

Decision Making

The cognitive process of selecting a course of action from among multiple alternatives, often influenced by judgment, reasoning, and preferences.

Symbols

Representations of objects, concepts, or relationships in various forms such as language, mathematics, and art, used for communication and understanding.

Complex Molecules

Substances formed from the bonding of two or more chemical elements, where at least one of these bonds involves the sharing of electrons.