Suppose that in March 2012, Japan's CPI was equal to 1150 and the CPI in the US was also equal to 1150. Which of the following conclusions is correct? Select one: a. Prices in Japan and the US are the same. b. The inflation rate in Japan and the US are the same. c. Prices have increased by 15 percent since the base period in both countries. d. None of the above can be concluded.
Suppose that in March 2012, Japan's CPI was equal to 1150 and the CPI in the US was also equal to 1150. Which of the following conclusions is correct? Select one: a. Prices in Japan and the US are the same. b. The inflation rate in Japan and the US are the same. c. Prices have increased by 15 percent since the base period in both countries. d. None of the above can be concluded.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
Section: Chapter Questions
Problem 9WNG
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Suppose that in March 2012, Japan's CPI was equal to 1150 and the CPI in the US was also equal to 1150. Which of the following conclusions is correct?
Select one:
a.
Prices in Japan and the US are the same.
b.
The inflation rate in Japan and the US are the same.
c.
Prices have increased by 15 percent since the base period in both countries.
d.
None of the above can be concluded.
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