In a Recovery Phase, a Falling Rate of Inflation Means

question 120

Multiple Choice

In a recovery phase, a falling rate of inflation means that the price level is

• A) falling.
• B) falling at an increasing rate.
• C) rising by smaller and smaller percentages.
• D) falling at a constant rate.

---

Definitions:

Unexpected Event

An occurrence or situation that was not foreseen or anticipated and may significantly impact contracts or legal obligations.

Substantially Impaired

A term used to describe a significant reduction in the ability or function of something or someone.

Novation

The act of replacing an existing contract with a new one, where a different party assumes the rights and obligations of the original party.

Accord

An agreement in contract law where one party agrees to accept something different (often less) than what was initially agreed upon as satisfactory performance.