Asked by
Sagar Ganjani
on Oct 13, 2024
Verified
If the CPI changed from 210.6 in 2007 to 209.4 in 2008 to 206.3 in 2009,this would be an example of
A) disinflation.
B) escalating inflation.
C) creeping inflation.
D) deflation.
CPI
A gauge of the average price levels for a mix of consumer services and products like medical care, transportation, and food, the Consumer Price Index assesses this through a weighted average.
Deflation
A decrease in the general price level of goods and services in an economy over time.
- Review the effects that inflation and deflation have on the economic landscape and people's financial situations.
Verified Answer
PE
Learning Objectives
- Review the effects that inflation and deflation have on the economic landscape and people's financial situations.