The Data in the Table Above Shows the Consumption by Families

question 59

Multiple Choice

The data in the table above shows the consumption by families in an economy.The year 2015 is the reference base period.
-Based on the table above,between 2015 and 2016,the inflation rate in this country was

• A)98.5 per cent.
• B)105.1 per cent.
• C)-1.5 per cent.
• D)-2.5 per cent.
• E)2.5 per cent.

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Definitions:

Market Price

The current price at which a good or service can be bought or sold in a marketplace.

Average Total Cost

The cost per unit is calculated by dividing the sum of fixed and variable production costs by the total quantity of units produced.

Market Price

The current price at which an asset or service can be bought or sold in a particular marketplace.

Marginal Revenue

The profit gained by selling an extra unit of a product or service.