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15. Suppose the price index in 2004 was 110; in 2005 it was 120; and in 2006 it
was 125. Which of the following statements is correct?
a. The economy experienced inflation between 2004 and 2005, and again
between 2005 and 2006.
b. The inflation rate was positive between 2004 and 2005, and it was
negative between 2005 and 2006.
c. The inflation rate was higher between 2005 and 2006 than it was between
2004 and 2005.
d. All of the above are correct.
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15. Suppose the price index in 2004 was 110; in 2005 it was 120; and in 2006 it
was 125. Which of the...