Question 1
An increase in the overall price level that continues over a significant period of time is
◦ high inflation.
◦ sustained recovery.
◦ sustained inflation.
◦ super inflation.
Question 2
A price index is
◦ a measurement showing how the average price of a bundle of goods changes over time.
◦ a measurement showing the cost of a bundle of goods at a point in time.
◦ a sustained increase in the overall price level.
◦ a decrease in the overall price level.