If the CPI Was 121

question 408

Multiple Choice

If the CPI was 121.5 at the end of last year and 138.3 at the end of this year, the inflation rate over these two years was

• A) 10.2 percent.
• B) 12.2 percent.
• C) 16.8 percent.
• D) 13.8 percent.

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Definitions:

Economic Growth

An increase in the production of goods and services in an economy over a period of time, typically measured by GDP.

Natural Resources

Materials or substances occurring in nature which can be exploited for economic gain, such as minerals, forests, water, and arable land.

Megacities

Urban areas with a population exceeding 10 million people, typically experiencing significant economic, social, and infrastructural challenges and opportunities.

Estimated

Roughly calculated or approximated based on available information or data.