Multiple Choice
Suppose you sell surfboards for a living, expect the price of surfboards to increase at the same rate as inflation and adjust prices accordingly.If this does not occur, then it must be true that:
A) the price of surfboards is changing at a rate that is different from what was expected.
B) the inflation rate is different from what was expected.
C) both the price of surfboards and the inflation rate are different from what was expected.
D) the relative price of surfboards is changing.
Correct Answer:
Verified
Correct Answer:
Verified
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