-Refer to Figure 7-1.Based on the figure,
A) the price level has fallen since 1965
B) the price level in 1985 was lower than in 1980
C) the price level fell from 1980 to 1990
D) the price level has not fallen since 1965
E) the base year is 1965

Question

-Refer to Figure 7-1.Based on the figure,
A) the price level has fallen since 1965 
B) the price level in 1985 was lower than in 1980 
C) the price level fell from 1980 to 1990 
D) the price level has not fallen since 1965 
E) the base year is 1965

Quizplus · Accepted Answer

The statement that the price level has not fallen since 1965 is correct, as it implies a continuous increase or stability in the price level without any decrease, which is a common trend in historical price level data.

-Refer to Figure 7-1.Based on the Figure