GoodPrice Increase Last YearAmusement park tickets5.0%Bowling balls4.2%Camouflage neckties3.1% Refer to Table 8.1, which gives hypothetical data on price changes for three goods. If the overall rate of inflation in the economy was 3.5%, what happened to the real price of camouflage neckties?
A. The real price of camouflage neckties fell by 0.4%.
B. The real price of camouflage neckties fell by 6.6%.
C. The real price of camouflage neckties rose by 0.4%.
D. The real price of camouflage neckties rose by 6.6%.
Answer: A
Economics
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