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Compare the following two situations. In the first, gasoline prices alone rise from $2.50 per gallon to $4.00 per gallon. In the second, prices of most goods and services – including gasoline prices -- increase by 4 percent. Which of those situations represents inflation in an economy?
a. On the first situation
b. On the second situation
c. On both situations
d. Neither situation
Sagot :
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