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Suppose the price index in 2004 was 11

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Question

15. Suppose the price index in 2004 was 110, in 2005 it was 120, and in 2006 it;was 125. Which of the following statements is correct?;a. The economy experienced inflation between 2004 and 2005, and again;between 2005 and 2006.;b. The inflation rate was positive between 2004 and 2005, and it was;negative between 2005 and 2006.;c. The inflation rate was higher between 2005 and 2006 than it was between;2004 and 2005.;d. All of the above are correct.

 

Paper#22623 | Written in 18-Jul-2015

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