Multiple Choice
The inflation rate in the year 2007 is defined as:
A) the ratio of the nominal GDP in 2007 and the nominal GDP in 2006.
B) the percentage of change between the price index in 2007 and the price index in 2006.
C) the difference between the value of the price index in 2007 and the value of the price index in 2006.
D) the ratio of the 2007 price index and 2006 price index.
Correct Answer:
Verified
Correct Answer:
Verified
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