Question

Based on this​ information, you can say that the overall​ "price level"​ ___________. A. remained unchanged during the year since the average price for the three goods stayed the same at $ 7.33. B. increased since cashews are now more expensive than almonds and pecans. C. stayed the same since the price of cashews increased but the price of almonds fell. D. there is not enough information to determine the change in the overall price level.

Answer 1

D. there is not enough information to determine the change in the overall price level.

Step-by-step explanation:

A price level is the average of current prices across the entire spectrum of goods and services produced in the economy. To determine the price level, information about current and past period's prices of a basket of goods and services is needed to be compared.

It is only the availability of two or more sets of such information that will enable a comparison to be made and for conclusions to be drawn.