If all prices,including the price of beef,increased by 3%,then the relative price of beef _______ and there ________ inflation.

Name: If all prices,including the price of beef,increased by 3%,then the relative price of beef _______ and there ________ inflation.
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The relative price of beef remains constant because all prices, including beef, increased by the same percentage. However, there is inflation because the overall price level has increased.

If All Prices,including the Price of Beef,increased by 3%,then the Relative