Multiple Choice
In China, suppose that the price level was 100 in 2007, 110 in 2008, 120 in 2009, and 130 in 2011. Over this time period,
A) zero inflation occurred.
B) the inflation rate increased.
C) the inflation rate was positive.
D) the inflation rate decreased.
E) Both C and D are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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