InflatiOn is best described as _. (1 point) 0 a downward. general trend of prices in the economy 0 an upward trend in total economic output 0 an upward. general trend of prices in the economy 0 a downward trend in total economic output Which of the following scenarios illustrates cost-push ination? (1 point) A decrease in the price of raw materials increase aggregate supply. pushing prices lower throughout the economy. A large decrease in consumption decreases aggregate demand, pushing prices lower throughout the economy. A large increase in consumption increases aggregate demand, pushing prices higher throughout the economy. An increase in the price of raw materials decreases aggregate Supply. pushing prices higher throughout the economy. The Consumer Price Index in 2018 was 251. in 2019. the CPI rose to 257. Calculate the ination rate from 2018 to 2019. Round your answer to the nearest tenth of a percent. (1 point) 0 2.4% O 2.3% O 6% 0 102.4% The Consumer Price Index of any given year provides . (1 point) 0 the relative price of a basket of consumer goods as compared to base year prices 0 the nominal price of a basket of consumer goods the relative price of all consumer goods in the economy as compared to base year prices 0 the nominal price of all con3umer goods in the economy The rate of ination in a hypothetical economy is projected to be 1.5% in the coming quarter. Given this information. the Federal Reserve is likely to . (1 point) 0 make efforts to raise the inflation rate because 1.5% is below the desired rate of inflation O make efforts to maintain the inflation rate because 1.5% is the desired rate of ination 0 take no action because 1.5% is the ideal inflation rate 0 make efforts to lower the inflation rate because 1.5% is greater than the desired