posted a question
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.
Tutor answered the question
Dear Student, PFA Regards  

Download Preview:

6257334_ECO
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...