Figure 14.2 -In Figure 14.2,given the Economy Is at Point a in Point

question 68

Multiple Choice

Figure 14.2
-In Figure 14.2,given the economy is at point A in year 1 and point B in year 2,what is the rate of increase in the price level (the inflation rate) between those two years?

• A) 1.8 per cent
• B) 2.7 per cent
• C) 3.0 per cent
• D) 0.9 per cent

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Definitions:

Base Year Amount

A reference figure used in economic and financial analysis, representing a specific year's data against which other years' data are compared.

Current Year Amount

The total financial figures, such as revenue, expenses, or profits, calculated for the company's ongoing fiscal year.

Percentage Increase

The rate of growth of a quantity, expressed as a fraction of its previous value and shown as a percentage.

Sales Data

Information related to the amount, timing, and composition of a company's sales.