According to Figure 7.1,which of the following statements was definitely true about Country B?
A) Relative prices were changing.
B) The average price in general increased over the time period 1970 to 1995.
C) Real incomes were increasing.
D) The price level was about the same in 1970 and 1995.
Correct Answer:
Verified
Q1: If the price of iPods rises 10
Q2: When there is no deflation or inflation,
A)Prices
Q4: Inflation is
A)A rise in the price of
Q5: Deflation is a/an _ in the average
Q6: Changes in the relative prices of two
Q7: Inflation means
A)Specific prices are rising,and relative prices
Q8: Relative price is
A)The price of one good
Q9: A decrease in the average level of
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