When There Is No Deflation or Inflation in an Economy

question 57

Multiple Choice

When there is no deflation or inflation in an economy:

• A) Prices of all goods change by the same percentage.
• B) Relative prices remain unchanged.
• C) Average prices remain unchanged.
• D) Full employment is achieved.

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Definitions:

Elevator Pitch

A succinct and persuasive sales pitch that is intended to spark interest in a product, service, or project within the time span of an elevator ride.

Spiral Bound

A type of binding for books or documents where pages are fastened along one edge by a spiral of wire or plastic that loops through holes.

Price Leader

A company or product that determines the price levels within a market, often by being the dominant player or by offering the lowest prices.

Quality Leader

An individual or organization recognized for setting high standards and demonstrating excellence in product or service quality.