Inflation is an overall:
A. rise in prices in the economy.
B. decline in prices in the economy.
C. decline in prices in the economy, excluding those with historically volatile price changes.
D. rise in prices in the economy, excluding those with historically volatile price changes.
Answer: A
Economics
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Car Depreciation A common complaint is that a new car will depreciate by 25% as soon as the new owner drives it off the lot. This information comes from resale price data from cars sold just months after the initial purchase. How does adverse selection imply that most cars depreciate much less?
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How much does quantity change if MC1 shifts to MC2?
A. Slightly less than one
B. About one
C. Slightly more than one
D. Not at all
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