For an Imaginary Economy, the Value of the Consumer Price

question 201

Multiple Choice

For an imaginary economy, the value of the consumer price index was 140 in 2006 and 149.10 in 2007. The economy's inflation rate for 2007 was

• A)6.1 percent.
• B)6.5 percent.
• C)9.1 percent.
• D)49.1 percent.

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Definitions:

Last Clear Chance Doctrine

A largely outdated principle of torts that the last person capable of avoiding the accident is wholly responsible.

Liability

Legal responsibility for one's actions or omissions, which can lead to civil duty or financial compensation.

Age

The length of time that a person or entity has been alive or in existence.

Negligence

The failure to take appropriate care in doing something, leading to damage or injury to another.