Economics · Oct / Nov 2021 · Paper 12 · Question 21
2281Inflation
How is the rate of inflation measured?
- Aby calculating the change in the price of goods and services from one year to the next
- Bby calculating the real value of all output of goods and services in an economy
- Cby calculating the total number of people willing and able to work but cannot find work
- Dby calculating the total value of exports minus the total value of imports
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Correct answer: A. by calculating the change in the price of goods and services from one year to the next
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