Question

Between 1984 and 2005, the price level in the United States increased by how much?

1) 88%
2) 88 dollars
3) 88 points
4) 88%

Answer 1

Between 1984 and 2005, the price level in the United States increased by 88%.

Step-by-step explanation:

Between 1984 and 2005, the price level in the United States increased by 88%. Inflation is the general increase in prices over time, and it is measured using an inflation rate. The 88% increase reflects the overall rise in prices during that period. It means that the cost of goods and services in the United States was approximately 1.88 times higher in 2005 compared to 1984.

The options provided seem to be a bit ambiguous, but I'll assume you are asking about the percentage increase in the price level between 1984 and 2005 in the United States.

Answer 2

Between 1984 and 2005, the price level in the United States increased by 88%.

Therefore, option 1) 88% is correct.

Step-by-step explanation:

The percentage increase is the appropriate measure to express the change in the price level over time. The percentage change provides a relative comparison of the price level between two points in time. In this case, the correct answer is 88%, indicating that the price level increased by 88% from 1984 to 2005.

Options 2 and 3 (88 dollars and 88 points) represent absolute changes and are not suitable for expressing the overall percentage increase in the price level. Option 4 (88%) correctly represents the percentage change.

Understanding percentage change is crucial in analyzing inflation, economic trends, and the purchasing power of a currency over time.

Therefore, option 1) 88% is correct.