Multiple Choice
If the cost of groceries goes up by 10 percent this year, the amount of groceries you can buy for $50 decreases by that same 10 percent. This is an example of
A) deflation.
B) a recession.
C) a rise in GDP.
D) a decline in GDP.
E) a decrease in purchasing power.
Correct Answer:
Verified
Correct Answer:
Verified
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