The Percentage Change in the Price Level from One Period

question 31

Multiple Choice

The percentage change in the price level from one period to another is called

• A)the growth rate.
• B)the inflation rate.
• C)the GDP deflator.
• D)the unemployment rate.

---

Definitions:

NAFTA

The North American Free Trade Agreement, a treaty entered into by the United States, Canada, and Mexico; it was superseded by the United States-Mexico-Canada Agreement (USMCA) in 2020.

Trade Deficits

A situation in which a country's imports of goods and services exceed its exports, leading to more money flowing out of the country than coming in.

World's Largest Exporter

The country or entity that sells the largest amount of goods to foreign countries, measured by value.

Exports

Merchandise or services originating from one country and sold to purchasers in another country.