Question

What is the price​ level? The price level is​ ______. A. the average level of prices paid by urban consumers for all goods excluding food and energy B. the average level of prices C. equal to the inflation rate D. the average level of prices paid by urban consumers

Answer 1

Answer:

Price Level is B. The average level of prices

Explanation:

Price level is the average of current prices across the entire spectrum of goods and services produced in the economy.

Price level refers to the price or cost of a good, service, or security in the economy.

Reference: Kenton, Will. “Reading Into Price Levels.” Investopedia, Investopedia, 27 Sept. 2019