Multiple Choice
If the average price of an automobile increased from $7,000 to $8,000 from 1979 to 1980,then we know that:
A) the real price of automobiles must have increased.
B) the absolute price of automobiles increased but its real price declined.
C) the absolute price of automobiles increased but we do not have enough information to say what happened to its real price.
D) the demand for automobiles increased during that period.
Correct Answer:
Verified
Correct Answer:
Verified
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