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Which of the following is true about inflation? a. It reduces the cost-of-living of the typical worker. b. It is measured by changes in the cost of a typical market basket of goods between time periods. c. It causes the purchasing power of a dollar to rise. d. It has no effect on real resources

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majocgonzalez majocgonzalez

18-10-2019

Answer:

b. It is measured by changes in the cost of a typical market basket of goods between time periods.

Explanation:

Inflation is the increase in the prices of products and services. It is measured as the rate of change of the prices and the consumer price index is an indicator of it as it is the percentage change in the price of a basket of products and services consumed by people.

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