Inflation can be measured by the a. change in the consumer price index. Inflation in the U. S. has averaged about 2.5% over the last 80 years. b. change in the consumer price index. Inflation in the U. S. has averaged about 4% over the last 80 years. c. percentage change in the consumer price index. Inflation in the U. S. has averaged about 3.6% over the last 80 years. d. percentage change in the consumer price index. Inflation in the U. S. has averaged about 4% over the last 80 years.

Question

Armani Norris

Business

11 August, 06:43

Inflation can be measured by the a. change in the consumer price index. Inflation in the U. S. has averaged about 2.5% over the last 80 years. b. change in the consumer price index. Inflation in the U. S. has averaged about 4% over the last 80 years. c. percentage change in the consumer price index. Inflation in the U. S. has averaged about 3.6% over the last 80 years. d. percentage change in the consumer price index. Inflation in the U. S. has averaged about 4% over the last 80 years.

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Answers (1)

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Korbin Wise · Answer 1

The correct answer is option c.

Explanation:

Inflation can be defined as a continuous and sustained increase in the general price level. There are several types of inflation such as cost-push and demand-pull inflation.

The rate of inflation can be calculated by finding the rate of change in the price level. The consumer price index is a tool that is used to measure the rate of inflation.

According to the official data, over the last 80 years, the inflation rate has averaged to 3.6% in the US. This means that the price level has increased by a rate of 3.6% in the last 80 years.