In the Country of Krypton,the Price of Lead Increased from $20

question 19

Multiple Choice

In the country of Krypton,the price of lead increased from $20 per kilogram to $22 per kilogram during a time when the overall price level increased by 6 percent.During this period,what happened to the real price of lead?

• A) It has increased by about 2 percent.
• B) It has decreased by about 4 percent.
• C) It has decreased by about 8 percent.
• D) It has increased by about 10 percent.

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Definitions:

Payment

The transfer of money, goods, or services from one party to another as a fulfillment of an obligation.

Possession

The state or fact of owning, having, or controlling something.

Secured Party

A lender, seller, or any other person in whose favor there is a security interest, including a person to whom accounts or chattel paper has been sold.

Collateral

Assets pledged by a borrower to secure a loan or ensure repayment, which can be seized by the lender in the event of default.