If the CPI for This Year Is 220 and the CPI

question 352

Multiple Choice

If the CPI for this year is 220 and the CPI for last year was 215, the inflation rate is

• A) 5 percent.
• B) just over 5 percent.
• C) just over 2 percent.
• D) 10 percent.

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Definitions:

Material

Consisting of physical substance; relating to physical matter and objects as opposed to spiritual or intellectual qualities.

Spiritual

Relating to or affecting the human spirit or soul as opposed to material or physical things; often concerns a sense of connection to something greater than oneself.

Ideas of the World

Refers to the various concepts, beliefs, and perspectives that people have about the world and its nature.

Idealism

A philosophical approach that posits reality or reality as experienced is fundamentally mental, mentally constructed, or otherwise immaterial.