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Author Question: What is inflation and how is it measured using the Consumer Price Index? What will be an ideal ... (Read 91 times)

cherise1989

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on: Jun 29, 2018
What is inflation and how is it measured using the Consumer Price Index?
 
  What will be an ideal response?

Question 2

A time-series graph showing total production in Japan from 1960 to 2010 shows a positive trend. It is the case that total production
 
  A) fell every year between 1960 and 2010.
  B) rose every year between 1960 and 2010.
  C) was lower in 2010 than in 1960.
  D) was higher in 2010 than in 1960.


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ryrychapman11

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The inflation rate is the percentage change in the price level from one year to the next. In other words, it is the growth rate of the price level. The CPI is a measure of the price level and so can be used to calculate the inflation rate.

Answer to Question 2

D


cherise1989

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

gcook

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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