Suppose that the price level was 100 in 2011, 110 in 2012, and 130 in 2013. Over these three years
A) deflation occurred at an accelerating rate.
B) the inflation rate was positive but slowing.
C) prices were stable.
D) the inflation rate was positive and accelerating.
D
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Describe the pattern of growth rates in real GDP per hour worked in the United States since the early nineteenth century. Has output per hour worked consistently increased at the same rate? Explain
What will be an ideal response?
Refer to Table 9-11. If the actual terms of trade are 1 hat for 1.8 clocks and 150 hats are traded, how many hats will Belize gain compared to the "without trade" numbers?
A) -100 B) 0 C) 150 D) 250
Currently, a three-year Treasury note pays 4.75%. Assuming that your tax rate is 20%, what is the minimum interest rate that you would you need to earn on a tax-free municipal bond in order to buy it instead?
A) 0.95% B) 3.8% C) 5.7% D) 15.25%
In some countries, medical care is provided free-of-charge to citizens and is paid for by the government. In those countries, medical care:
A. is available at zero opportunity cost. B. does not exhibit diminishing marginal returns. C. is rationed by some non-monetary method. D. is not a scarce resource.