If the price level for the last three months has been 112, 125, and 126, we would say
A) inflation has been constant over the three months.
B) inflation was more rapid between the first and second month than between the second and third month.
C) inflation was less rapid between the first and second month than between the second and third month.
D) inflation has steadily increased over the three months.
B
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Suppose the current price of copper is $3 per pound and the quantity supplied is 200 pounds per day
If the price of copper falls to $2.50 per pound, the quantity supplied drops to 180 pounds per day. Use the midpoint formula to calculate the price elasticity of supply for copper.
Factors that shift the demand schedule for money include all of the following EXCEPT
A) interest rate paid on money. B) payment technology. C) interest rate paid on non-money assets. D) wealth.