Multiple Choice
Suppose that the consumer price index rose by 3% from 2013 to 2014.Suppose that the price of a pizza increased by 5% during that time.Which of the following is TRUE?
A) The nominal price of pizza decreased.
B) The real price of pizza increased.
C) The real price of pizza did not change.
D) The real price of pizza decreased.
Correct Answer:
Verified
Correct Answer:
Verified
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