In the U.S., inflation rates were highest during: 1960s 19705 1980s 1990 s. 2000s 20105 In the second quarter of 2020 , real GDP fell by 31%, In the third quarter, real GDP increased by 33%. This means that at the end of the third quarter: real GDP was lower than it was at the beginning of the second quarter. real GDP was about the same as it was at the beginning of the second quarter. real GDP was higher than it was at the beginning of the 2nd quarter. real GDP was lower at the end of the third quarter than it was at the end of the second quarter. inflation rate) $14,084 $63,900 $18272 cannot determine the answer with given information Teday's IPhone is better than the Phones of 2007 , thought they both sold for abour the same price. Because of the improvements in qualay, the measured CPI (which includes IPhones) 1ends to Overstate the level of price inflatien understate the level of price inflation Quality has no impact on price infation. Quality improvements do not cause eerors in the CPi, but qualiy decreases always cause the CPt to overstate in thation . Babe Futh earned 550.000 in 1922 . If the CPI in 1922 was 16.8 and today's CPI is 274, what would Paths salary be worth at today's phices? $815,476 $34,332,987 513,700,000 $2,992,000