If the Price Level Last Year Was 220 and This

question 332

Multiple Choice

If the price level last year was 220 and this year is 250, what is the inflation rate between the two years?

• A) 20 percent
• B) 30 percent
• C) 13.6 percent
• D) 12.2 percent

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Definitions:

Technological Advances

Innovations and improvements in technology that enhance productivity, efficiency, and quality of life.

Microfinance

Financial services provided to individuals or small businesses in underserved markets or developing countries, often including small loans.

Imperfect Information

The absence of full knowledge concerning product characteristics, available prices, and so on.

Peer Lending

A financial transaction in which individuals lend money to each other directly, often facilitated by an online platform, bypassing traditional financial intermediaries.