Solved

Refer to Table 8

Question 7

Multiple Choice

 Good  Price Increase since  Last Year  Amusement park tickets 5.0% Bowling balls 4.2% Camouflage neckties 3.1% Table 8.1\begin{array}{l}\begin{array} { | c | c | } \hline \text { Good } & \begin{array} { c } \text { Price Increase since } \\\text { Last Year }\end{array} \\\hline \text { Amusement park tickets } & 5.0 \% \\\hline \text { Bowling balls } & 4.2 \% \\\hline \text { Camouflage neckties } & 3.1 \% \\\hline\end{array}\\\text { Table } 8.1\end{array} Refer to Table 8.1,which gives hypothetical data on price changes for three goods.If the overall rate of inflation in the economy was 4.5%,which of the following statements is true?


A) The real price of all three goods increased.
B) The real price of amusement park tickets rose, and the real price of bowling balls and camouflage neckties fell.
C) The real price of amusement park tickets fell, and the real price of bowling balls and camouflage neckties rose.
D) The real price of all three goods decreased.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions