1. If real GDP decreased from 2012 to 2013, then a. ouput and prices have decreased from 2012 to 2013. b. output decreased from 2012 to 2013. c. only prices decreased from 2012 to 2013. d. it cannot be determined whether output or prices or both decreased from 2012 to 2013.

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter22: Inflation
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Problem 5SCQ: How to Measure Changes in the Cost of Living introduced a number of different price indices. Which...
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1. If real GDP decreased from 2012 to 2013, then
a.
ouput and prices have decreased from 2012 to 2013.
b.
output decreased from 2012 to 2013.
c.
only prices decreased from 2012 to 2013.
d.
it cannot be determined whether output or prices or both decreased from 2012 to 2013.
 
2.
If the Consumer Price Index (CPI) changes from 106 in year one to 110 in the next year, the rate of inflation over the period is
a.
216%.
b.
103.77%.
c.
3.77%.
d.
4%.
 
which one the answer
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