At the End of Last Year, the CPI Equaled 120

question 127

Multiple Choice

At the end of last year, the CPI equaled 120. At the end of this year, the CPI equals 132. What is the inflation rate over this year?

• A) 10 percent
• B) 12 percent
• C) 6 percent
• D) None of the above answers are correct because more information is needed to calculate the inflation rate.

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Definitions:

Unanimous Vote

A voting outcome where all members of a group fully agree on a decision or proposal.

Two-thirds

A fraction that represents 66.67 percent of a whole, often used as a voting threshold to pass significant decisions in various forums.

Majority Vote

A decision-making rule in which the option that receives more than half of the votes amongst all options is chosen.

Inside Directors

Members of a company's board of directors who are also part of the company's management team, often holding executive positions.