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 4.5%, which of the following statements is true?
A. The real price of all three goods decreased.
B. The real price of amusement park tickets fell, and the real price of bowling balls and camouflage neckties rose.
C. The real price of all three goods increased.
D. The real price of amusement park tickets rose, and the real price of bowling balls and camouflage neckties fell.
Answer: D
Economics
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