In a particular economy, the price index was 120 in 2012 and 130 in 2013 . Which of the following statements is correct?
a. The economy experienced a rising price level between 2012 and 2013.
b. The economy experienced a higher inflation rate between 2012 and 2013 than it had experienced between 2011 and 2012.
c. The inflation rate between 2012 and 2013 was 10 percent.
d. The base year is 2011.
a
Economics
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The consumption function shows the relationship
A) between households' disposable income and their consumption spending. B) between consumption spending and capital gains. C) between government spending and tax collection. D) between investment and rate of return.
Economics
When accounting profits are negative, economic profits
A) must be positive. B) will be negative. C) will equal zero. D) could be positive, negative or zero.
Economics