Asked Nov 3, 2019

Inflation can be measured by the



change in the consumer price index.



percentage change in the consumer price index.



percentage change in the price of a specific commodity.



change in the price of a specific commodity.


check_circleExpert Solution
Step 1

Inflation is the abnormal increase in the general price level in the economy. As a result of inflation, the rea...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour*

See Solution
*Response times may vary by subject and question
Tagged in



Business cycles

Related Economics Q&A

Find answers to questions asked by student like you

Show more Q&A add

Q: Consider the market for paper towels where the supply curve is upward sloping and the demand curve i...

A: Consumer Surplus: It refers to the difference between the maximum price the buyer is willing to pay ...


Q: Connie has a monthly income of $20.00 that she allocates among two goods: meat (M) and potatoes (P) ...

A: Answer -  Part (a)-Answer -Given in the question -Monthly income of Connie( M) = $20 Connie's goods ...


Q: Question 28 Consider a firm with production function f(L,K)=3L1/3K2/3. Assume that capital is fixed ...

A: The average fixed cost (AFC) is determined by taking the ratio of total fixed cost with the total ou...


Q: A “black market” is a place where people make illegal trades in goods and services. For instance, du...

A: Black market emerges when the demand is inelastic for a good and in this market the price is set hig...


Q: (3) Analyze the following statement: Federal farm price supports can never achieve their goals becau...

A: Yes, the given statement is true.


Q: Suppose that people expect inflation to equal 3 percent, but in fact prices rise by 5 percent. Indic...

A: Inflation rate refers to rise in average price levels of goods and services produced in an economy o...


Q: specialize in producing radios? Compasses? Problem 2 Gary and Diane must prepare a presentation for ...

A: a. Gary will take 10 hours to calculation and 10 hours to prepare the slides. Time taken by Gary whe...


Q: Can you help me with 4 and 5

A: At socially optimal level, output is produced at a point where price equals marginal cost. 


Q: Find the values of x1 and x2 where the following two constraints intersect. (Round your answers to 3...

A: Here, the first step is to simplify the inequalities: therefore, the equation (1) can be written as ...