At the End of Last Year the Consumer Price Index

question 261

Multiple Choice

At the end of last year the Consumer Price Index was equal to 163.8 and at the end of this year it was equal to 157.5. What is the inflation rate over this time period?

• A) 10.1 percent
• B) 3.85 percent
• C) 4.0 percent
• D) 6.3 percent

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Definitions:

E-Procurement

The use of online systems and tools to conduct the purchasing process and acquire goods and services for a business, aiming to improve efficiency and reduce costs.

Auctions

Competitive bidding processes where goods or services are sold to the highest bidder.

Internet Purchasing

The process of buying goods and services online, leveraging digital platforms and e-commerce websites for transactions.

Negotiation Strategies

Approaches taken by supply chain personnel to develop contractual relationships with suppliers.