Asked by Jordan Tongen on May 12, 2024
Verified
Since the end of World War II,the U.S.price level has:
A) increased tenfold.
B) increased by an average of 10 percent each year.
C) increased and decreased with equal regularity,leaving the price level almost constant.
D) increased by 50 percent.
E) doubled.
Price Level
The comprehensive average of current prices for goods and services in the economic sector.
World War II
A global conflict that lasted from 1939 to 1945, involving most of the world's nations, including all of the great powers, eventually forming two opposing military alliances: the Allies and the Axis.
- Acquire understanding regarding the patterns of historical inflation and the factors driving them.
Verified Answer
CA
Camille AltemeMay 18, 2024
Final Answer :
A
Explanation :
Since the end of World War II, the U.S. price level has increased significantly, more than doubling. The correct answer is that it has increased tenfold, reflecting the cumulative effect of inflation over the decades.
Learning Objectives
- Acquire understanding regarding the patterns of historical inflation and the factors driving them.
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