Answered: If the price level increased from 120…

If the price level increased from 120 to 142, then what was the inflation rate? 1.2 percent 0.8 percent 18.3 percent 22.0 percent

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter18: Six Debates Over Macroeconomic Policy

Section18.4: Should The Central Bank Aim For Zero Inflation?

Problem 4QQ

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Question

If the price level increased from 120 to 142, then what was the inflation rate?

1.2 percent

0.8 percent

18.3 percent

22.0 percent

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