The Price Index Was 150 in the First Year,160 in the Second

question 28

Multiple Choice

The price index was 150 in the first year,160 in the second year,and 165 in the third year.Which of the following statements is correct?

• A)The price level was higher in the second year than in the first year,and it was higher in the third year than in the second year.
• B)The inflation rate was positive between the first and second years,and it was positive between the second and third years.
• C)The inflation rate was lower between the second and third years than it was between the first and second years.
• D)All of the above are correct.

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Definitions:

Inventory Management

The process of ordering, storing, using, and selling a company's inventory, including the management of raw materials, components, and finished products.

RFID Tags

Small electronic devices that use radio-frequency identification to store and transmit data, commonly used for tracking inventory, goods, or even animals.

Nanotechnology

The science, engineering, and technology conducted at the nanoscale, which is about 1 to 100 nanometers, focusing on manipulating matter at this atomic and molecular level.

General Merchandise Stores

Retail establishments that offer a wide range of products across multiple categories, typically without specializing in any one segment.