Answered: Last year a movie ticket cost $10. Now…

Last year a movie ticket cost $10. Now a movie ticket cost $12. Which of the following best describes this economic condition? deflation inflation stagflation hyper-inflation

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter7: Unemployment And Inflation

Section: Chapter Questions

Problem 3.7P

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Question

Last year a movie ticket cost $10. Now a movie ticket cost $12. Which of the following best describes this economic condition?

deflation

inflation

stagflation

hyper-inflation

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