10. il 12. 13 14. 15, 16. Why can't the market basket used to summarize today's price levels contain exactly the same things as the market basket being used in the 1950s? Summarize the amount of inflation the U.S.A. has experienced from the 1950s onward. During the past 25 years, prices have been decreasing in ----- , but in at the end of 2014, the inflation rate in ----- was almost 70%! What do economists call the inflation that results from too people competing for items by bidding up the price, as when too much money is chasing too few goods? When a productive resource like gasoline is scarce and prices for everything else go up because most businesses depend on gasoline to at least some extent, another kind of inflation is triggered by this supply shock. What do economists call this kind of inflation? What did average house prices in the U.S. do between 2000 and 20067 What about average house prices in Las Vegas and Los Angeles? In 2005, what did The Economist magazine call this rise in home prices? What is the main problem with a bubble