Inflation Means That

question 48

Multiple Choice

Inflation means that:

• A)all prices are rising, but at different rates
• B)all prices are rising, and at the same rate
• C)prices are rising in general, although some particular prices may be falling
• D)real incomes are rising
• E)real incomes are falling

---

Definitions:

Car Wash

A facility used to clean the exterior and, sometimes, the interior of motor vehicles.

Dog Wash

A service establishment or event where dogs are bathed and cleaned, often including other grooming services.

Opportunity Cost

The cost of foregone alternatives; the value of the next best alternative that is given up when making a choice.

Opportunity Cost

the value of the best alternative that is foregone when making a decision, representing the benefits that could have been received by taking a different path.