Suppose over the last five years that the price of recycled aluminum increased from $800 a ton to $900 a ton.Over the same time a measure of the overall price level increased from 120 to 138.The real price of recycled aluminum
A)increased,so it became scarcer
B)increased,so it became less scarce
C)decreased,so it became scarcer
D)decreased,so it became less scarce

Question

Quizplus · Accepted Answer

The real price of recycled aluminum decreased because the price increase from $800 to $900 is less than the overall price level increase from 120 to 138. This suggests that recycled aluminum became less scarce.

Suppose Over the Last Five Years That the Price of Recycled