A gallon of gasoline cost 36 cents in 1970 and in 2017 cost:
A$3.62
B$1.55
C$2.35
D$8.65
Answer & Solution
Correct answer: C. $2.35
1. Almost every product rose in price.
2. Gasoline reached $2.35.
3. A movie ticket rose from $1.55 to $8.65.
_Source: OpenStax Principles of Macroeconomics for AP Courses 2e, Chapter 8, Inflation (CC BY 4.0)._
Keep practising Inflation
Browse all Inflation questions for AP Macroeconomics, or explore more Economics topics.