(Table) The associated table provides a hypothetical bundle of goods. If 2014 is the base year, the economy is experiencing _____ in 2017.
A) inflation
B) disinflation
C) deflation
D) hyperinflation

Question

(Table) The associated table provides a hypothetical bundle of goods. If 2014 is the base year, the economy is experiencing _____ in 2017. 
A) inflation 
B) disinflation 
C) deflation 
D) hyperinflation

Quizplus · Accepted Answer

If the prices of the goods in the bundle have increased in 2017 compared to the prices in the base year 2014, then it indicates inflation.

(Table) the Associated Table Provides a Hypothetical Bundle of Goods