If the consumer price index falls from 120 to 116 in a particular year, the economy has experienced
A) inflation of 4 percent.
B) inflation of 3.33 percent.
C) deflation of 3.33 percent.
D) deflation of 4 percent.
Correct Answer:
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Q69: Q70: As applied to the price level, the Q71: Q72: For every 1 percentage point that the Q73: If potential GDP is $400 billion and Q75: If potential GDP is $330 billion and Q76: Full-employment output is also called Q77: Inflation means that Q78: Assume the natural rate of unemployment in Q79: The consumer price index was 177.1 last
A) zero-unemployment output.
B)
A) all prices are rising,
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