If the CPI This Year Is 220 and Was 200

question 390

Multiple Choice

If the CPI this year is 220 and was 200 in last year, the annual inflation rate between the two years is

• A) 20 percent.
• B) 10 percent.
• C) 2 percent.
• D) 5 percent.

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Definitions:

Indorsee

A person to whom a negotiable instrument is transferred by indorsement.

Payable

Financial obligations or monies that are due to be paid to creditors or suppliers.

HDC (Holder in Due Course)

A party possessing a negotiable instrument, like a check, who has taken it in good faith and for value, and thus has certain protections.

Negotiable Instrument

A legal document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the transferable right to receive the payment.