Solved

Suppose That Over the Last Year the Price of Copper

Question 89

Multiple Choice

Suppose that over the last year the price of copper increased from $1.70 a pound to $1.79 per pound.Over the same time a measure of the overall price level increased from 300 to 309.The price of copper increased by


A) less than inflation,and this means it became relatively less scarce.
B) less than inflation,and this means it became scarcer.
C) more than inflation,and this means it became scarcer.
D) more than inflation,but this doesn't necessarily mean that it become scarcer.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents