Table 8-16

-Refer to Table 8-16.Given the information above,what can we say has happened in the economy from 2017 to 2018?
A)The price level has fallen.
B)The price level has risen.
C)The price level has remained constant.
D)Not enough information is available to determine what has happened to prices.

Question

Table 8-16
 
-Refer to Table 8-16.Given the information above,what can we say has happened in the economy from 2017 to 2018?
A)The price level has fallen. 
B)The price level has risen. 
C)The price level has remained constant. 
D)Not enough information is available to determine what has happened to prices.

Quizplus · Accepted Answer

The GDP deflator has increased from 118 in 2017 to 120 in 2018, indicating that the overall price level has risen.

Table 8-16 -Refer to Table 8-16.Given the Information Above,what Can We Say