Multiple Choice
If inflation is viewed as a "sustained increase in the general level of prices," an increase in the price of a specific market basket of goods from $34.50 six months ago $35.71 today would suggest that the annual rate of inflation is:
A) 3.4%.
B) $1.21.
C) 3.5%.
D) 7.0%.
Correct Answer:
Verified
Correct Answer:
Verified
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