Multiple Choice
A relative price shift occurs when
A) the inflation rate of a good or service remains unchanged.
B) the inflation rate of a good or service is significantly higher or lower than the overall inflation rate.
C) the inflation rate of a good or service matches the overall inflation rate.
D) inflation exceeds the average revenue per capita.
Correct Answer:
Verified
Correct Answer:
Verified
Q4: Money illusion occurs when we compare dollar
Q5: The average price level measures how much
Q6: A wage-price spiral occurs when<br>A) businesses boost
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Q8: Inflation can be defined as<br>A) an overall
Q10: Hyperinflation is<br>A) a moderate increase in prices
Q11: If an auto manufacturer installs antilock brakes
Q12: The average price level is equivalent to<br>A)
Q13: Core inflation includes energy and food cost
Q14: What is the cost of transactions as