What is the term for the percentage change in the general price level from one year to the next?

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Multiple Choice

What is the term for the percentage change in the general price level from one year to the next?

Explanation:
Inflation rate is the percentage change in the general price level from one year to the next. It’s measured using price indices such as the CPI or the GDP deflator, and you compute it as the percent change in the index from the previous year. For example, if a price index moves from 100 to 103, the inflation rate is 3%. This captures the overall rise (or fall) in prices across the economy, not just a single good. The other terms refer to different concepts: GDP is total output, unemployment rate measures joblessness, and deadweight loss is the efficiency loss from market distortions.

Inflation rate is the percentage change in the general price level from one year to the next. It’s measured using price indices such as the CPI or the GDP deflator, and you compute it as the percent change in the index from the previous year. For example, if a price index moves from 100 to 103, the inflation rate is 3%. This captures the overall rise (or fall) in prices across the economy, not just a single good. The other terms refer to different concepts: GDP is total output, unemployment rate measures joblessness, and deadweight loss is the efficiency loss from market distortions.

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