If the Price Level Is 100 in One Year and Rises

question 45

Multiple Choice

If the price level is 100 in one year and rises to 102 the next year, then the inflation rate is

• A) 0.02 per cent.
• B) 100 per cent.
• C) 2.0 per cent.
• D) 102 per cent.
• E) unable to be determined without knowing potential GDP.

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Definitions:

Psychodynamic

A psychological perspective that focuses on the dynamic interplay between conscious and unconscious processes in shaping personality and behavior.

Behavioural

Pertaining to the actions or reactions of a person or animal in response to external or internal stimuli.

Humanistic

Pertaining to an approach in psychology that emphasizes individual choice and potential, focusing on the human capacity for growth and self-actualization.

Personality Traits

Enduring characteristics or behaviors that define an individual's patterns of thought, feeling, and behavior.