Economics: Private and Public Choice
16th Edition
ISBN: 9781337642224
Author: James D. Gwartney; Richard L. Stroup; Russell S. Sobel
Publisher: Cengage Learning US
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Chapter 8, Problem 13CQ
To determine
Identify the relevance of the statement.
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Over a long period of time, the price of a kebab rose from £5.00 to £7.50. Over the same
period, the consumer price index rose from 150 to 300. Adjusted for overall inflation, how much did the price of the kebab change? Show your calculations step by step with explanations.
Which one is worse: inflation or deflation?
The rate of inflation in Zimbabwe rose in 2018 from 10.6% to 577.21% in 2020. What was the positive effect of this unexpected inflation on the residents of the country?Group of answer choices
It helped creditors
Helped those people on fixed incomes
None because everybody is hurt by inflation
It helped debtors
Chapter 8 Solutions
Economics: Private and Public Choice
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