Asked by Mojarai Johnson on May 04, 2024
Verified
For nearly every year since 1992 our rate of inflation was below
A) 5 percent.
B) 4 percent.
C) 3 percent.
D) 2 percent.
E) 1 percent.
Rate of Inflation
The rate of inflation is the annual percentage increase in the overall price level of goods and services in an economy over a period of time.
- Comprehend the fundamentals of inflation, disinflation, and deflation, including their triggers and impacts.
Verified Answer
AO
Adrianna Ortiz RodriguezMay 11, 2024
Final Answer :
C
Explanation :
The question states that the rate of inflation was below a certain number every year since 1992. According to historical data from the US Bureau of Labor Statistics, the average inflation rate from 1992 to 2019 was approximately 2.2%. However, there were also several years during this period where the inflation rate was negative (deflation), further lowering the overall average. Therefore, it can be determined that the rate of inflation was below 3 percent for nearly every year since 1992.
Learning Objectives
- Comprehend the fundamentals of inflation, disinflation, and deflation, including their triggers and impacts.