Solved

In 2009, a Market Basket of Goods and Services Cost

Question 113

Multiple Choice

In 2009, a market basket of goods and services cost $100 in Merryland while the same basket cost $200 in Berryland. In 2010, the cost in Merryland was $150 and in Berryland, the cost was $225. Based on the given information, which statement is TRUE?


A) The rate of inflation is four times as large in Merryland as in Berryland.
B) Berryland has more inflation than Merryland.
C) The countries have the same rate of inflation.
D) Neither country underwent inflation.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents