Multiple Choice
In a particular nation,people buy a completely unique and different set of goods and services every year.None of the goods purchased in the new year are the same as any of the goods purchased in the previous year.Based on this information:
A) we would know the nation is experiencing inflation.
B) we would know the nation is experiencing deflation.
C) the consumer price index (CPI) would be meaningless in this nation.
D) this nation faces a price confusion problem.
E) the relative price of all goods would determine the CPI.
Correct Answer:
Verified
Correct Answer:
Verified
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