Economics 2281 · O Level · Inflation and deflation

Inflation and deflation — practice question

In Uganda, the inflation rate decreased from $5\%$ in 2014 to $2\%$ in 2015. Which conclusion may be inferred from this information?

  • APrices were higher in 2015 than in 2014.
  • BThe cost of living fell between 2014 and 2015.
  • CThe standard of living fell between 2014 and 2015.
  • DUgandan citizens were better off in 2015 than 2014.

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