51.Supposethepriceindexwas110in2004,120in2005,and125in2006.Whichofthefollowingstatementsiscorrect? a.Theeconomyexperiencedinflationbetween2004and2005andbetween2005and2006. b.Theinflationratewaspositivebetween2004and2005,anditwasnegativebetween2005and2006. c.Theinflationratewashigherbetween2005and2006thanitwasbetween2004and2005. d.Alloftheabovearecorrect. 52.Thepriceindexwas170inthefirstyear,180inthesecondyear,and195inthethirdyear.Theinflationratewasabout a.5.6percentbetweenthefirstandsecondyears,and7.7percentbetweenthesecondandthirdyears. b.5.9percentbetweenthefirstandsecondyears,and8.3percentbetweenthesecondandthirdyears. c.10percentbetweenthefirstandsecondyears,and15percentbetweenthesecondandthirdyears. d.80percentbetweenthefirstandsecondyears,and95percentbetweenthesecondandthirdyears. 53.Thepriceindexwas150inthefirstyear,142.5inthesecondyear,and138.2inthethirdyear.Theeconomyexperienced a.5.0percentdeflationbetweenthefirstandsecondyears,and3.0percentdeflationbetweenthesecondandthirdyears. b.7.5percentdeflationbetweenthefirstandsecondyears,and4.3percentdeflationbetweenthesecondandthirdyears. c.5.3percentinflationbetweenthefirstandsecondyears,and4.1percentinflationbetweenthesecondandthirdyears. d.7.5percentinflationbetweenthefirstandsecondyears,and4.3percentinflationbetweenthesecondandthirdyears. 54.Ifthepriceindexwas90inyear1,100inyear2,and95inyear3,thentheeconomyexperienced a.10percentinflationbetweenyears1and2,and5percentinflationbetweenyears2and3. b.10percentinflationbetweenyears1and2,and5percentdeflationbetweenyears2and3. c.11.1percentinflationbetweenyears1and2,and5percentinflationbetweenyears2and3. d.11.1percentinflationbetweenyears1and2,and5percentdeflationbetweenyears2and3. 55.Thepriceindexwas150inthefirstyear,160inthesecondyear,and165inthethirdyear.Whichofthefollowingstatementsiscorrect? a.Thepricelevelwashigherinthesecondyearthaninthefirstyear,anditwashigherinthethirdyearthaninthesecondyear. b.Theinflationratewaspositivebetweenthefirstandsecondyears,anditwaspositivebetweenthesecondandthirdyears. c.Theinflationratewaslowerbetweenthesecondandthirdyearsthanitwasbetweenthefirstandsecondyears. d.Alloftheabovearecorrect. 56.Inaparticulareconomy,thepriceindexwas120in2012and130in2013.Whichofthefollowingstatementsiscorrect? a.Theeconomyexperiencedarisingpricelevelbetween2012and2013. b.Theeconomyexperiencedahigherinflationratebetween2012and2013thanithadexperiencedbetween2011and2012. c.Theinflationratebetween2012and2013was10percent. d.Thebaseyearis2011. 57.Whichofthefollowingchangesinthepriceindexproducesthegreatestrateofinflation:80to100,100to120,or150to170? a.80to100 b.100to120 c.150to170 d.Allofthesechangesproducethesamerateofinflation. 58.Whichofthefollowingchangesinthepriceindexproducesthegreatestrateofinflation:106to112,112to118,or118to124? a.106to112 b.112to120 c.118to126 d.Allofthesechangesproducethesamerateofinflation. 59.Whichofthefollowingchangesinthepriceindexproducesthegreatestrateofinflation:100to110,150to165,or180to198? a.100to110 b.150to165 c.180to198 d.Allofthesechangesproducethesamerateofinflation. 60.Whichofthefollowingchangesinthepriceindexproducesthegreatestrateofinflation:12to15,20to24,or30to35? a.12to15 b.20to24 c.30to35 d.Allofthesechangesproducethesamerateofinflation.