Related to the Economics in Practice on P

question 138

Multiple Choice

Related to the Economics in Practice on p. 453: The Consumer Price Index in the United States was 215.3 in 2008 and 214.5 in 2009. If a retiree received a monthly pension check of $4,500.00 in 2008 and her pension is tied to the CPI, how much would her monthly pension check be in 2009?

• A) $4,464.00
• B) $4,483.28
• C) $4,500.00
• D) $4,714.50

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Definitions:

Global Telecommunications

Worldwide infrastructure and services for the exchange of information through electronic networks.

Commercial Letter

A formal document used in business transactions that typically contains specific information and terms regarding a deal or agreement.

Documentary Collection

A process where a seller uses a bank as a medium to collect payment from a buyer when the goods are delivered.

Exporter

An individual or company that sells goods or services produced in one country to buyers in other countries.