During a Certain Year, the Consumer Price Index Increased from 150

question 86

Multiple Choice

During a certain year, the consumer price index increased from 150 to 159 and the purchasing power of a person's bank account increased by 3.5 percent. For that year,

• A)the nominal interest rate was 6 percent.
• B)the nominal interest rate was 9.5 percent.
• C)the inflation rate was 3.5 percent.
• D)the inflation rate was 9.5 percent.

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Definitions:

Task Specialisation

The division of labor where individuals or groups focus on a narrow set of tasks, improving efficiency and expertise.

Job Scope

The extent of the range of responsibilities, duties, and tasks that a particular job entails.

Job Depth

The degree of control, decision-making power, and responsibility granted to an employee within their role, often related to the complexity and scope of the tasks they perform.

Job Rotation

A strategy where employees rotate between multiple positions within an organization to learn different skills and gain varied experience.